Judge Banda-Bobo vacates order which stayed some of the powers of KCM’s provisional liquidator
By Staff Reporter
THE Lusaka High Court has discharged an order granted to Vedanta Resources Holdings Limited in which some of the powers Konkola Copper Mines provisional liquidator Milingo Lungu had in the mining firm’s liquidation process was stayed.
According to the order vacating ex-parte order granted to KCM’s majority shareholders Vedanta on Wednesday, High Court judge Anessie Banda-Bobo declared the order inoperative.
“Upon hearing counsel for the parties, it is hereby ordered that the ex-parte order to stay some of the powers of the provisional liquidator dated 26 June 2019 be and is vacated forthwith,” read the order in part.
This is in a case where ZCCM-IH petitioned the court, seeking an order that KCM be wound up for engaging in tax evasion and being managed in a manner detrimental to its interests among other allegations.
On Wednesday, judge Banda-Bobo granted Vedanta an order, halting some of the powers of the provisional liquidator such as disposing of assets of KCM by public tender or selling them until the winding up petition is determined.
This was after ZCCM-IH asked the court to discharge with costs the order that judge Banda-Bobo granted.
ZCCM-IH has also asked the court to set aside the notice of intention by Vedanta Resources Holdings Limited to appear at the petition hearing.
The petitioner has argued that the notice of intention to appear in the petition was not only defective but improperly before court because the manner it was done was not tenable at law.
The court has set July 4 for inter parte hearing.
