Another massive sale of assets belonging to Gupta-owned Shiva Uranium is on the cards as the battle between the company’s current and former business rescue practitioners heads to the SCA, says a report on the IoL site.

The sale was sanctioned by Shiva Uranium’s joint business rescue practitioners Chris Monyela and Juanito Damons, who face more legal battles launched by Mahomed Mahier Tayob and Eugene Januarie, the business rescue practitioners unlawfully appointed by Shiva Uranium chief executive and director George van der Merwe.

Shiva Uranium was placed under voluntary business rescue in February last year. Tayob and Januarie are turning to the SCA to apply for leave to appeal after Gauteng High Court (Pretoria) Judge Mokhine Mosopa’s December judgment dismissed their urgent bid to interdict the Companies and Intellectual Property Commission from implementing its Companies Tribunal’s decision not to recognise them as Shiva Uranium’s business rescue practitioners.

In February, Mosopa also dismissed Tayob and Januarie’s bid to apply for leave to appeal his decision to the full Bench of the High Court or the SCA, saying his order cannot be appealed as the two did not show they would suffer irreparable harm if they were not granted leave to appeal.

In his founding affidavit, Tayob told the SCA that Mosopa had misinterpreted the Companies Act, which regulates the appointment of business rescue practitioners, and subordinated the Shiva Uranium board’s correctly taken decision to an incompetent individual (Monyela) who was not entitled to act for the company on his own.

Tayob and Januarie argue that Monyela, as a junior business rescue practitioner, was only competent to manage Shiva Uranium’s affairs if assisted by a senior business rescue practitioner.

Full report on the IoL site