By CHINTU MALAMBO
THE South African High Court has denied ZCCM-IH leave to appeal the court’s ruling that the Konkola Copper Mines (KCM) winding-up petition instituted by ZCCM-IH in Zambia amounted to a breach of the KCM Shareholders Agreement.
According to a statement, Justice LR Adams of the Gauteng Local Division of Johannesburg in the High Court of South Africa denied ZCCM leave to appeal his judgement of July 23 2019 and dismissed ZCCM’s application with costs.
ZCCM’s had wanted to appeal the court’s finding that the South Gauteng High Court has jurisdiction based on the arbitration clause in the KCM Shareholders Agreement, and that the KCM winding-up application instituted by ZCCM in Zambia amounted to a breach of the KCM Shareholders Agreement.
Justice Adams said his reasons for refusing leave to appeal were that ZCCM raised nothing new in their application that had not already been dealt with in the initial judgement.
Also that leave to appeal could only be granted if the judge was of the opinion that the appeal would not have a reasonable prospect of success.
“In my view, there are no reasonable prospects of another court coming to different conclusions, be it on aspects of facts or law, to the ones reached by me. The appeal does not, in my judgement, have a reasonable prospect of success,” read the statement.
The Johannesburg Court is recognised as a Court in the context of the International Arbitration Act.
Vedanta served its notice of arbitration on ZCCM on 31 July 2019.