Pensioners to challenge CSC creditors’ meeting outcome
Business Reporter
Cold Storage Company (CSC) Pension Fund is considering challenging the outcome of the first creditors meeting that was recently held in Bulawayo, because it allegedly did not afford it the opportunity to either endorse or reject the appointment of Ngoni Kudenga of BDO Chartered Accountants as a corporate rescue practitioner.
They argued Additional Master of the High Court (Bulawayo), Ms Rose Dube, who presided over the meeting, disqualified Mr Kudenga on the basis of an objection that he was conflicted because of his previous association with Lands, Agriculture, Fisheries, Water, Climate and Rural Resettlement Minister Dr Anxious Masuka.
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The Zimbabwe Independent
TINASHE KAIRIZA
A CONSORTIUM of local companies and industrialists are seeking to seize a 75% stake in the defunct Cold Storage Company (CSC) after tabling a US$225 million investment proposal to the government.
However, there are fears that the new proposal may trigger a legal battle as the government already has a deal with British firm, Boustead (Pvt) Limited. The subsisting agreement is valued at US$130 million.
Documents show that the consortium, trading as CSC 2016, is represented by a team led by former CSC chief executive and Monetary Policy Committee (MPC) member Eddie Cross, Presidential Advisory Committee (PAC) member and United Refineries executive Busisa Moyo and Southern Africa Regional Roundtable for Sustainable Beef vice-president Max Makuvise.
The Zimbabwe Independent
TINASHE KAIRIZA
A CONSORTIUM of local companies and industrialists are seeking to seize a 75% stake in the defunct Cold Storage Company (CSC) after tabling a US$225 million investment proposal to the government.
However, there are fears that the new proposal may trigger a legal battle as the government already has a deal with British firm, Boustead (Pvt) Limited. The subsisting agreement is valued at US$130 million.
Documents show that the consortium, trading as CSC 2016, is represented by a team led by former CSC chief executive and Monetary Policy Committee (MPC) member Eddie Cross, Presidential Advisory Committee (PAC) member and United Refineries executive Busisa Moyo and Southern Africa Regional Roundtable for Sustainable Beef vice-president Max Makuvise.
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