South African Businessman Loses $1.2B Gas Deal Over Unpaid Debt
Johannesburg News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
Lawrence Mulaudzi, a South African businessman, lost a $1.2 billion gas infrastructure deal with PetroSA due to his company Equator Holdings financial troubles, stemming from an unpaid debt to a former soccer player. Despite Mulaudzis claims of unawareness, records showed his lawyers sought a settlement after the liquidation order. Players and creditors expressed frustration over broken promises, while the soccer player fought back in affidavits, calling Mulaudzis explanations farcical. The court set aside the liquidation following a settlement, reviving Equator, but concerns remain over its funding and credibility, leaving the project in limbo.
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