King's Daughter Mining Company UK Limited v Redwing Mining Company (Private) Limited & Ors

HH 133-22

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Case Details

Court

Harare High Court

Date

9 March 2022

Citation

HH 133-22

Neutral Citation

[2022] ZWHH 133

Outcome

unknown

Case Type

Application

Bench

Presiding

Mafusire J

Full Bench

Mafusire J

Areas of Law

Corporate lawInsolvency law

Keywords

Corporate rescueInsolvency ActCorporate rescue practitionerMining companyJoint venture agreements

Key Issues

{"issue_text":"Whether the corporate rescue order should be set aside on grounds that the company is no longer financially distressed","issue_type":"mixed","dispositive":"no","related_facts":"Financial improvement claims, debt payments, KD's financial support"}
{"issue_text":"Whether the corporate rescue practitioner should be removed for incompetence and misconduct","issue_type":"mixed","dispositive":"yes","related_facts":"Failure to prepare rescue plan, joint venture agreements, fraud allegations"}
{"issue_text":"Whether an extension of time to publish the corporate rescue plan should be granted","issue_type":"procedural","dispositive":"no","related_facts":"Litigation delays, COVID-19 disruptions"}

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background

Facts of the Case

Background

A UK-based parent company sought to set aside a corporate rescue order for its Zimbabwean mining subsidiary, arguing the company was no longer financially distressed and alleging misconduct by the corporate rescue practitioner who had entered into multiple joint venture agreements without proper consultation.

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