Lusaka High Court Judge Anessie Banda-Bobo has discharged the ex-parte order she granted Vedanta Resources Holdings Limited to halt Konkola Copper Mines (KCM) provisional liquidator Milingo Lungu from selling KCM assets.
“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 June 26, 2019, be and is hereby vacated forthwith,” read the order signed by Judge Anessie Banda-Bobo today.
This is the matter in which ZCCM Investments Holdings PLC is seeking an order to have KCM liquidated.
On Wednesday, Justice Banda-Bobo granted Vedanta an order staying some of Lungu’s powers as a Provisional Liquidator.
The powers included among others; those of making any compromises or arrangements with creditors, disposing of assets by public tender or selling them, pending the outcome of the Winding-Up Petition.
However, ZCCM-IH through its Lawyers Messrs Shamwana and Company asked the court to discharge the order to stay some of Lungu’s powers with costs, saying the act of applying and obtaining an ex parte order to stay some of the powers of the provisional liquidator was irregular as such should be discharged.