You may have heard of Louis Klopper as one of the famed Business Rescue Practitioners (BRP) for the Gupta companies.
Louis took on this role in February 2018 when the eight Gupta companies, largest of which was Optimum Coal, were placed in business rescue after local banks cut off the companies’ banking facilities at a time when the press was swirling with stories of the Guptas’ undue influence over then-president Jacob Zuma.
It’s been a long and agonising road for the BRPs. They had to face down more than 60 court cases from a swarm of lawyers, opportunists and Gupta proxies seeking to remove them as practitioners or liquidate the companies and pocket handsome fees that would have run to as much as R300 million.
That never happened. Every one of the court cases was defeated and the companies will likely soon have new owners, with fresh capital, ready to recommence operations.
Louis was one of the first to be awarded the prestigious CFO (SA) designation by the SA Institute of Business Accountants (Saiba) and is also a member of Saiba’s technical committee, in charge of Business Rescue. Read more here.