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ZCCM-IH applies to Lusaka High Court to liquidate KCM

A request to Lusaka High Court to grant an order of appointment of Milingo Lungu from Messrs Lungu Simwanza and Company as provisional liquidator of Konkola Copper Mines Plc has been filed by ZCCM-IH Investment Holdings Plc.

This is according to an application for ex parte order appointing provisional liquidator filed in the High Court yesterday.

According to the order, the Liquidator will have powers to carry on the business of KCM so far as is necessary for the beneficial winding up.

The parent liquidator wishes to be permitted with total custody of all KCM assets. This includes making arrangements with creditors, presentation of questionnaires relating to or affecting the company or its assets.

The liquidator will possess authority to bring or defend any action or other legal proceedings in the name and or on behalf of KCM, dispose assets by public tender or the most transparent manner under the circumstances and sell the real and personal property and things in action of KCM by public tender or private contract.

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