METRO Peech & Browne Wholesalers (Metro Peech) has been placed under corporate rescue with effect from August 31, 2023.
Oliver Mtasa of Crowe Advisory (Private) Limited was appointed as corporate rescue practitioner.
“This notice serves to advise that with effect from 31 August 2023, Metro Peech & Browne was placed under corporate rescue in terms of the Insolvency Act (chapter 6: 07)….,” the notice reads in part.
It added: “During the corporate rescue proceedings as provided by Section 126 of the Act, no legal proceeding including enforcement action against the company or in relation to any property belonging to the company, or lawfully in its possession, may be commenced or proceeded with in any form without the authority of the corporate rescue practitioner.”
According to the notice, the first meeting of creditors and members will be held on September 20, 2023 at Master’s Court in Harare.
The purpose of the meeting is for the proof of claims, overview of corporate rescue proceedings, statement by the Master High Court about the reasonable prospect of rescuing the company and appointment of a committee of creditors.
“Kindly note that if you are owed money by the company for any reason whatsoever you are required to complete a proof of claim form. You will be required to complete these forms in duplicate and lodge them with the Master of High Court at the Master’s office,” the notice further reads.
Metro Peech boasts about 19 branches across the country.
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