High Court Stays Some of KCM Liquidator’s Powers

June 27, 2019June 27, 20199The Lusaka High Court has stayed some of the powers of Konkola Copper Mines (KCM) Provisional Liquidator Milingo Lungu.Among the powers that have being stayed are those of making any compromises or arrangements with creditors.The powers to dispose- off assets by public tender or selling them have been stayed , pending the outcome of the Winding-Up Petition.This is according to an ex-parte order to stay some of Mr . Lungu’s powers.The decision was made by High Court Judge Anessie Banda-Bobo.The judge further ordered that t the inter-parte hearing will be held on July 4, this year, at 10:00 hours.In this matter, ZCCM Investments Holdings PLC is seeking an order to have KCM liquidated.In May this year, Judge Banda-Bobo granted ZCCM-IH an order to appoint Milingo Lungu of Messrs Lungu Simwanza and Company as provisional liquidator of KCM. Post Views: 9
News Source: ZNBC