Low-cost airline Mango was told by Minister Pravin Gordhan’s department of public enterprises (DPE) to carry on trading, even though it was effectively bankrupt and continuing to do business may well have contravened the Public Finance Management Act (PFMA) and possibly exposed directors for failing to carry out their fiduciary duties. It appears from correspondence seen by Saturday Citizen, at the end of May last year, the airline’s management and board of directors discussed draft correspondence that contained desperate pleas to the DPE – which represents the government as shareholder – to have the company placed in business rescue. While…



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