JOHANNESBURG (Reuters) – The former furniture unit of failed South African lender African Bank Investments says it owes creditors 1.3 billion rand ($117 million), nearly half of that to major lenders including FirstRand and Standard Bank, documents showed.
African Bank’s former unit, Ellerine Holdings, which is under restructuring, says it owes four South African banks a total of 591 million rand, according to the business rescue plan prepared by outside consultants and posted on its website.
The other two banks owed money are Barclays Africa and Investec, reflecting the extent to which African Bank’s failure earlier this year has rippled across corporateSouth Africa.
(1 US dollar = 11.1345 South African rand)
