ABSA Moves To Liquidate Sandra Moonsamy Family Empire

Crossmoor Transport faces liquidation challenge as another creditor claims R40m in unpaid debt.

DURBAN: It seems the the money woes of Durban transport tycoons Alvin and Inderan Naicker have since worsened according to TimesLIVE. It is reported that Absa Bank is applying to have their flagship firm, Crossmoor Transport, liquidated.

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A Sunday Times story revealed that the Pinetown businesswoman returned to a multibillion-rand family business empire that is allegedly a tangled web of debt.

Petroleum supplier Engen had hauled brothers Inderan and Alvin Naicker to court over the disputed unpaid fuel bill of R50 million rands. The company initially failed to honor payments in January 2019 and in March the situation grew dire where the company signed an acknowledgement of debt to the value of R35 million rands. Sandra Moonsamy was kidnapped two weeks later.

The family and their logistics and transport empire were thrust to the fore when the Naickers’ sister, Sandra Munsamy, was abducted in a brazen daylight kidnapping by a gang of armed men setting in motion a hostage and ransom drama that spanned six months.

The family has denied the allegation of being liquidated by ABSA.

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