BARLOWORLD Equipment Zambia Limited has asked the High Court to direct a timeframe for Konkola Copper Mines (KCM) to pay its US$999,000 debt. KCM owes about 676 creditors, who have been divided into two classes. Last year, KCM proposed a debt repayment scheme of arrangement, which was approved by Justice Charles Kafunda on June 28. Justice Kafunda then ordered KCM’s owners, Vedanta Resources Holdings Limited, to deposit US$225 million into the Escrow Account for creditor settlement, US$20 million for a one-off community support loan, and US$750,000 for a one-off employee bonus by July 8, 2024. In an affidavit in support of ex-parte summons for orders to fix a time for doing the act, Barloworld Equipment Zambia Limited Senior Financial Manager...
