by Sipilisiwe Ncube on 15 Sep 2019by Stuart Lisulo on 13 Sep 2019by Natasha Sakala on 13 Sep 2019by Natasha Sakala on 13 Sep 2019
by Zondiwe Mbewe on 16 Sep 2019by Zondiwe Mbewe on 16 Sep 2019by Diggers Correspondent on 16 Sep 2019by Zondiwe Mbewe on 13 Sep 2019
- Goal Diggers
by Abraham Kalito on 13 Sep 2019by Abraham Kalito on 13 Sep 2019by Abraham Kalito on 12 Sep 2019by Abraham Kalito on 11 Sep 2019
by Diggers Editor on 16 Sep 2019by Diggers Editor on 15 Sep 2019by Diggers Editor on 9 Sep 2019by Diggers Editor on 7 Sep 2019
- Guest Diggers
by Simon Manda, PhD on 16 Sep 2019by Simon Manda, PhD on 7 Sep 2019by pilAto/ Fumba Chama on 7 Sep 2019by Chisoni Mumba, PhD on 17 Aug 2019
- Editor's Choice
by Diggers Correspondent on 24 May 2019by Diggers Reporter on 4 Mar 2019by Andyford Mayele Banda on 29 Jan 2019by Davies Mwila on 22 Jan 2019
by Diggers Correspondent on 11 Aug 2019by Mukosha Funga on 27 Jul 2019by Mukosha Funga on 21 Jul 2019by Web Master on 27 Jun 2019
Liquidator appoints Makebi Zulu to represent KCM interestsBy Zondiwe Mbewe on 24 May 2019
Konkola Copper Mines (KCM), under the charge of provisional liquidator Milingo Lungu, has appointed Messrs Makebi Zulu Advocates to represent the mining company’s interests in the liquidation case.
And Vedanta Resources Holdings Limited, the intended second respondent, has appointed Mulenga Mundashi Kasonde Legal Practitioners and Corpus Legal Practitioners, as its advocates.
“Take notice that the respondent has appointed Messrs Makebi Zulu Advocates as their advocate. Kindly note that all correspondence relating to this matter must be addressed and sent to the address below,” read the notice of appointment as advocates filed on Wednesday.
“Take notice that the intended second respondent (Vedanta Resources Holdings Limited) has appointed Mulenga Mundashi Kasonde Legal Practitioners and Corpus Legal Practitioners whose address of service is indicated below.”
On Tuesday, Lusaka High Court Judge Anessie Banda-Bobo granted ZCCM-IH an order to appoint Milingo Lungu of Messrs Lungu Simwanza and Company as provisional liquidator of KCM.
In a Winding Up petition filed in the Lusaka High Court, Tuesday, ZCCM-IH told the Court that since KCM began operations, it had only paid US$58 million dividends to government and it had been involved in tax evasion schemes.
“Since the company commenced operations in 2004, it has only declared total dividends of US$58 million out of which it has refused, neglected or ignored to pay around US$10 million which was declared sometime in 2013 despite the sun having been accounted for in the financial statements. The company has failed to develop the mining areas in Chingola and Chililabombwe and carry out mining operations with due diligence in accordance with the program of mining operation in breach of Section 35(1)(b) of the Mines and Minerals Development A t 2015,” read the petition.
“The company is being managed in a manner detrimental to the interests of the Petitioner…the company is engaged in massive tax evasion through transfer mis-pricing and other unscrupulous means.”
And in an affidavit in support of application to appoint provisional liquidator, acting ZCCM CEO Mabvuto Chipata stated that KCM had not been declaring dividends and had neglected to clear its debts.
The inter-partes hearing of the application concerning the appointment of Milingo Lungu as provisional liquidator is scheduled to be heard today, May 24.
About Zondiwe Mbewe
Zondiwe has interest in writing political and current affairs on issues which affect every Zambians.
Email: zondiwe [at] diggers [dot] news
- Airtel agent in court for defiling wife’s sisters - 16 Sep 2019
- British man in court for assaulting Zambian cleaner girlfriend - 16 Sep 2019
- 4 Lusaka men sue Kaizer Zulu for kidnapping and beating them - 13 Sep 2019
- Judge Nkonde asks ConCourt to dismiss M’membe’s application for review of costs - 13 Sep 2019
- If Nevers is allowed to lead the party, there’ll be no MMD, witness tells court - 13 Sep 2019
- We warned Lungu over his friendship with Valden Findlay (4,890 views)
- Findlay knows Goswami; I've been in their presence before, reveals Kaweche Kaunda (2,264 views)
- British man in court for assaulting Zambian cleaner girlfriend (1,651 view)
- Bill 10 is nonsensical – Chongwe (1,559 view)
- How will judges rule on Bill 10 after submitting to Parley? (1,292 view)
- It makes us sad that we can't stick to load shedding schedule - Zesco
- Switch to cheaper food, Wina urges Zambians
- Findlay drug allegations shake State House as Lungu orders probe
- It's impossible to reduce mealie meal prices, brace for harder times, warns GBM
- Chipolopolo had horror moment in Brazzaville - FAZ
Subscribe For News In Email
The News Diggers
Deputy News Editor
Plot No. Lus/9812/649-MC8
off Alex Chola Road
P.O. Box 32147
Telephone or WhatsApp:
diggers [at] diggers [dot] news
editor [at] diggers [dot] news
Send this to a friend