Lesotho: Textile Factory Liquidator Questions Debts

THE legal battle over the ownership of the liquidated textile giant, Presitex Enterprise, has taken a new twist. The newly appointed liquidator, Kenneth Hlasa, is now challenging the legitimacy of the debts that led to the company’s liquidation in September 2023, calling them a hoax.

Mr Hlasa claims there is no evidence that Presitex, a subsidiary of CGM Group, owed its supposed supplier from the United Arab Emirates, Nazimada Textiles FZE, the sum of USD$2 242 619 (M39 798 413.82).

According to…