Shiva business rescue hits another obstacle
The business rescue practitioner for the Gupta’s embattled Shiva mine, which holds one of the largest uranium deposits in the world, has submitted an urgent application to the Competition Tribunal seeking the removal of two other practitioners he claims were unlawfully appointed. In the affidavit, notes Business Day, rescue practitioner Christopher Monyela sought an order to direct the Companies and Intellectual Property Commission (CIPC) to accept a form he filed on behalf of the company which appointed Juanito Damons as a senior practitioner of Shiva.
He also wanted it to remove a form from the company filings which appoints two other practitioners – Mohamed Tayob and Eugene Januarie.
In his affidavit, Monyela claimed that George van der Merwe was responsible for the unlawful appointment of Tayob and Januarie. Van Der Merwe had been the CEO of Gupta companies Optimum, Koornfontein and Shiva (all now in business rescue) and, Monyela said, had been ‘at the forefront of the Gupta’s attempts to disrupt and frustrate the business rescue process in the Oakbay group of companies’.
Monyela said he and the senior Shiva rescue practitioner Cloete Murray (since resigned) removed Van der Merwe from management in early June as he was obstructive and unco-operative. Yet in September, without Monyela’s knowledge, Van der Merwe appointed Tayob and Januarie and filed the record with the CIPC on behalf of the company.
Monyela said it inexplicable that the CIPC would refuse to file the valid appointment of Damons, yet accept the invalid appointment of Tayob and Januarie. The CIPC reportedly told Business Day a potential conflict identified was that Monyela worked with Damons in other matters and had acted on behalf of the company in the appointment of Damons.
Monyela said that without certainty about who the rescue practitioners were, the rescue could not proceed.
© Juta and Company (Pty) Ltd 2016
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