Pembury is facing liquidation showdown
PLG, which has a focus on education, said on Friday that it would oppose the liquidation application served by Moore Stephens.
TThe group announced in July last year that it was changing its auditors by mutual consent with Moore Stephens due to the growth of the group, the pending rotation of the audit partner and the company needing a larger audit firm with an in-house International Financial Reporting Standards adviser, as the main reason for the change.
But the group indicated during the termination process that it would consider using the services of Moore Stephens for projects or internal audit going forward, due to their knowledge of the group.
However, on Friday, PLG advised its shareholders that Moore Stephens has served separate applications for the provisional liquidation on the company.
Source: iol.co.za