An application of the State-owned Industrial Development Corporation (IDC) to have mining company Kalagadi Manganese placed under business rescue is being opposed in the High Court Gauteng Local Division, Johannesburg. As a R3-billion creditor and 20% shareholder of the black women-led private company, IDC has asked the court to appoint Sibusiso Nduna and Piers Marsden as the joint interim business rescue practitioners under section 131(5) of the Companies Act, 2008.
from Engineering News | Home https://ift.tt/3grENf0
