STA Travel was placed in liquidation on 30 September. According to their first report, a hold has been placed on STA Travel’s accounts by liquidators.
Its total assets amount to R3.7 million, while the liabilities total R213.5 million, including R2.1 million owed to about 200 employees. Approximately 27,000 customers are owed an estimated R91 million.
According to the liquidators’, the next step in the liquidation process is for the Masters of the High Court to convene a meeting of creditors and shareholders. This meeting would finalise the appointment of liquidators and submission of proof of claims.
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