by Natasha Sakala on 19 Sep 2019by Natasha Sakala on 19 Sep 2019by Mirriam Chabala on 19 Sep 2019by Mirriam Chabala on 19 Sep 2019
by Sipilisiwe Ncube on 19 Sep 2019by Julia Malunga on 17 Sep 2019by Stuart Lisulo on 17 Sep 2019by Sipilisiwe Ncube on 15 Sep 2019
by Zondiwe Mbewe on 19 Sep 2019by Zondiwe Mbewe on 19 Sep 2019by Zondiwe Mbewe on 18 Sep 2019by Zondiwe Mbewe on 18 Sep 2019
- Goal Diggers
by Mazuba Muleya on 18 Sep 2019by Abraham Kalito on 17 Sep 2019by Abraham Kalito on 13 Sep 2019by Abraham Kalito on 13 Sep 2019
by Diggers Editor on 19 Sep 2019by Diggers Editor on 18 Sep 2019by Diggers Editor on 17 Sep 2019by Diggers Editor on 16 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
Court halts KCM liquidation pending Vedanta’s appealBy Zondiwe Mbewe on 27 Aug 2019
The Lusaka High Court has stayed the winding-up proceedings that ZCCM Investments Holdings has instituted against Konkola Copper Mines (KCM), pending the appeal by Vedanta Resources Holdings Limited to the Court of Appeal against the court’s refusal to refer parties to arbitration.
And Lusaka High Court Judge Annessie Banda-Bobo has reserved ruling to a date to be advised on Vedanta’s application to stay some of the powers of KCM Provisional Liquidator Milingo Lungu.
This is the matter in which ZCCM-IH has petitioned the Lusaka High Court, seeking an order that KCM should be wound up for engaging in tax evasion and being managed in a manner detrimental to its interest, among other allegations.
But Vedanta, the contributor and majority shareholder of KCM, had applied for an order to stay proceedings and refer the parties to arbitration, pursuant to section 10 of the Arbitration Act.
However, judge Banda-Bobo, in her ruling of August 7, this year, dismissed Vedanta’s application, saying it was not a proper case to refer the parties to arbitration.
She ruled that staying the proceedings at the instance of Vedanta would be contrary to the wishes of ZCCM-IH and KCM, who are the parties to the proceedings.
Being dissatisfied with her ruling, Vedanta appealed to the Court of Appeal and asked judge Banda-Bobo to stay the proceedings before her, pending the determination of the appeal.
Vedanta argued in its grounds of appeal that judge Banda-Bobo erred in law and fact when she held that Vedanta, as contributor, could not make the application to stay and refer parties to arbitration as it was not a party to the proceedings, a finding which was not consistent with the true interpretation of the Arbitration Act.
It also argued that judge Banda-Bobo erred in law and fact when she concluded that KCM was a separate entity from Vedanta and that only KCM could defend itself in the winding-up proceedings.
When the matter came up in chambers, Tuesday, Vedanta urged the Court to stay the proceedings, pending the outcome of its appeal, arguing that not doing so would render the appeal an academic exercise.
And passing her ruling, judge Banda-Bobo allowed a stay of the proceedings before her in the interest of justice.
She said this would enable the issues raised by Vedanta to be interrogated by the Court of Appeal.
“That being the case, the proceedings are stayed, pending the outcome of the matter before the Court of Appeal,” judge Banda-Bobo said.
She further said she was of the belief that this would also arrest Vedanta’s concern that its appeal may be rendered an academic exercise in an event that it succeeded, although she saw no prospect of success.
Meanwhile, judge Banda-Bobo also heard an application by Vedanta to stay some of the powers of the Provisional Liquidator based on an application filed on June 25, this year.
After all the parties involved augmented their points, judge Banda-Bobo reserved her ruling to a date to be advised.
The Court had initially granted Vedanta an ex-parte order to remove certain powers from Lungu, but the same was later discharged.
About Zondiwe Mbewe
Zondiwe has interest in writing political and current affairs on issues which affect every Zambians.
Email: zondiwe [at] diggers [dot] news
- Tutwa reports Sangwa to LAZ for “professional misconduct” - 19 Sep 2019
- ConCourt sets Sept 27 for ruling on preliminary issues in LAZ Bill 10 case - 19 Sep 2019
- 120 people sue UPPZ leader for fraud over land - 18 Sep 2019
- Miles asks court to reduce child maintenance fee to K1,500 - 18 Sep 2019
- Attempts are being made to curtail my liberty to challenge my dismissal – Mutembo - 18 Sep 2019
- Sit down Mr Findlay (4,228 views)
- Attempts are being made to curtail my liberty to challenge my dismissal - Mutembo (2,881 views)
- IG Kanganja promotes Siame (2,802 views)
- Zesco tariffs to go up by 75%, we also need to revise fuel prices - Minister (2,699 views)
- Zambeef driver commits suicide (1,901 view)
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