By CHINTU MALAMBO
ZCCM-IH has applied for leave to appeal the court’s impromptu halting of the winging up proceedings of Konkola Copper Mines (KCM), pending Vedanta Resources Limited’s appeal to the Court of Appeal against Ms Justice Banda-Bobo’s refusal to refer parties to arbitration.
This is according to ex parte summons for leave to appeal against the extempore ruling of the court dated August 27, 2019.
In the main matter ZCCM-IH has asked the Lusaka High Court for an order that KCM be wound up for among other allegations, evading tax and for being insolvent.
But Vedanta as a Contributor asked the Lusaka High Court to refer the matter to arbitration in accordance with the Stakeholders Agreement in an event of a dispute.
On August 7, 2019, Ms Justice Banda-Bobo refused to refer parties to arbitration saying, it was not arbitrable.
Dissatisfied with Ms Justice Banda-Bobo’s refusal, Vedanta appealed to the Court of Appeal and asked her to stay the proceedings before her, pending the determination of the appeal.
On August 27, 2019, Ms Justice Banda-Bobo despite holding a view that Vedanta’s appeal had no prospects to succeed, using her discretion, stayed the winding up petition, pending the outcome of the appeal. But on Monday, ZCCM-IH through its lawyers Shamwana and Company sought am ex parte order for leave to appeal Ms Justice Banda-Bobo’s decision to stay the winding up petition.
ZCCM-IH argued that the court erred in facts and in law when she granted the stay of the winding up proceedings, pending the determination of the appeal despite making a finding that the Contributor’s appeal lacked any chances of success.