Trade union investment company NIC Investments, a subsidiary of the Numsa Investment Company (NIC), is facing a liquidation application over an alleged R32.5-million debt owed to Altrex Investments and its executive chairperson, Khandani Msibi.Msibi, who is also the suspended chief executive of NIC, has approached the court seeking the winding-up of NIC Investments, arguing that its failure to settle the debt is evidence of commercial insolvency.Altrex Investments is a shareholder entity linked to the Numsa Investment Company, the investment arm of the National Union of Metalworkers of South...

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