Evraz Highveld can be turned around, say business rescue appointees

Evraz Highveld Steel & Vanadium has a “reasonable prospect” for recovery, according to the business rescue practitioners appointed to assess the company’s future.

Matuson & Associates and Mazars Recovery and Restructuring were jointly appointed to handle the business rescue. At the end of last week, they met with nearly 300 creditors of the South African vanadium and steel producer to give an opinion on the possibility of success of a business rescue procedure as opposed to liquidation. This is a statutory requirement in the business rescue process. “We are of the view that there is most definitely the chance of a reasonable prospect here,” Piers...

Published

Bianca Markram

May 06, 2015

13:35 GMT

Johannesburg