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City Press reports that the majority union at the troubled Central Rand Gold SA has applied for the mining company which is already under liquidation, to be put under business rescue instead.
The Building Allied Mining and Construction Workers’ Union, which represents 75 of the 120 company’s employees, has applied to the Johannesburg High Court for an order that the company be placed under business rescue. According to the application the union filed earlier this month, it was allegedly not properly informed of the decision to liquidate the company. The company was placed under liquidation two months ago after two creditors, including the City of Johannesburg, approached the court. At the time, the court appointed a provisional liquidator, Icon Insolvency Practitioners. However, at the first meeting of creditors last month, Icon was voted out and new co-liquidators were appointed. At the first meeting of creditors held by the new liquidators last week, the proven creditors were briefed about the court challenge. Zolile Smous, general secretary of the union, declined to comment and said he would only speak about on the issue once the court had dealt with it. Thabo Padi, the lawyer for the City of Johannesburg, which is owed more than R18 million, confirmed he had been mandated by his client to oppose the union’s application.
- Read the full original of Lesetja Malope’s report on the above on page 3 of City Press Business of 28 July 2019
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