LUSAKA High Court Judge Charles Chifunda has vacated and set aside an order which stayed the approval of a debt repayment scheme of arrangement proposed by KCM for about 676 creditors. And Justice Kafunda has also vacated an order for a stay of an enforcement order directing KCM to pay a first instalment towards its US$29,609,678.63 debt to Copperbelt Energy Corporation. Earlier last year, KCM proposed a debt repayment scheme of arrangement for about 676 creditors that have been divided into two classes, which was approved by Justice Kafunda on June 28. Justice Kafunda then ordered KCM owners, Vedanta Resources Holdings Limited, to deposit into the Escrow Account US$225 million for creditor settlement, US$20 million for a once-off community support...
