THE Court of Appeal has dismissed an application by Konkola Copper Mines (KCM) for a stay of further execution and sale of seized goods for incompetence. Court of Appeal Judge Anessie Micheal Banda-Bobo also discharged the ex-parte order granted to KCM on March 18, 2025. 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 High Court Judge Charles Kafunda on June 28. Justice Kafunda then ordered KCM owners, Vedanta Resources Holdings Limited, to deposit US$225 million into an Escrow Account for creditor settlement, US$20 million for a one-time community support loan, and US$750,000 for a one-time employee bonus by July 8, 2024. Despite approval...
