Damelin owner Educor faces new crisis as Nedbank seeks liquidation of property group

Damelin owner Educor faces new crisis as Nedbank seeks liquidation of property group

Damelin owner Educor faces new crisis as Nedbank seeks liquidation of property group

A closed Damelin campus in Cape Town. (January Cronje/Noticias24)

Private higher education group Educor, already reeling from the deregistration of four of its universities, now has to deal with an attempt to liquidate one of its ownership arms over millions of rands in unpaid loans.

Nedbank is seeking to liquidate a property company linked to the troubled tertiary education provider, claiming it defaulted on loan repayment obligations.

Educor owns City Varsity, Damelin, ICESA City Campus and Lyceum College, as well as four real estate companies.

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