Rise and fall of MKB

Issue #112, 1st February 2009


Rise and fall of MKB

Investec reduces ambitious development company to rubble. Last September MKB issued a statement saying it had closed its construction company.

Without warning, Investec - the main funder, pulls the plug and plunges the group’s flagship company, MKB Property Developments, into provisional liquidation with a claim of R97m. It looks like the end of a brave but fatally flawed dream.

 

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