Zimbabwe Diamond and Allied Minerals Mines Workers Union and Sylvester Beremau and Michael Phiri versus Zimbabwe German Graphite Mines (Private) Limited T/A Lynx Mine and The Master of the High Court and The Registrar of Companies

Key Issues

• {"issue_text":"Whether the first respondent is financially distressed as required for corporate rescue under the Insolvency Act.","issue_type":"fact","dispositive":"yes","related_facts":"Failure to pay salaries and statutory obligations; payments made from third-party accounts; admission of financial trouble."}
• {"issue_text":"Whether it is just and equitable for the company to be placed under corporate rescue.","issue_type":"law","dispositive":"yes","related_facts":"Four years of non-operation; lack of management capacity; economic benefit to the country."}
• {"issue_text":"Whether there are reasonable prospects of rescue.","issue_type":"fact","dispositive":"yes","related_facts":"Market potential for lithium and graphite; estimated reserves of over 12 years; preliminary report concluding bright prospects; five-year business plan."}
• {"issue_text":"Whether the application was procedurally defective due to lack of notification.","issue_type":"procedural","dispositive":"no","related_facts":"Publication of notice."}

Background