Hwange Colliery reconstruction bid flops

THE High Court has dismissed Justice minister Ziyambi Ziyambi’s bid to put Hwange Colliery under reconstruction.

Justice David Mangota ruled that Ziyambi failed to justify his move given that a scheme of arrangement which was ratified by the government and other shareholders with a view to salvage the coal mining firm from collapse, was still operational.

Ziyambi approached the court with the application without consulting other shareholders, saying the problems afflicting the company needed swift action to avert possible liquidation.

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