RE: From Beyond the Fringe (FBF)4 Oct 2023 10:39
Cont.... Fast forward to 2023 and 19906 is now classed as Handa (keep this in mind!) Just to recap:
- Point [4]. Is not in dispute between MM and ES.
- The contention comes during point [10]. Licence number 8248-HQ-SML and the prospecting licence number 19906 HQ-LPL (together called the "target assets")
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Laymans terms:
- MM, arguing the agreement was based on a "20%" finder's fee* and solely based on his (MMs) original Zamsort shareholdings on 8248.
- ES, arguing the agreement was "sum +20%" for both 8248 & 19906.
Cash terms "to be added to the then outstanding debt of K100,000.00".
*Finder’s fee. ES did find that new investor - it was Ortac!
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Arguments are presented from both parties all the way to point [18]
Points [19] to [27]. Are all related to the consideration of the matter by the High Court.
ORTAC is mentioned during points 6, 8, 9, 20, 22, 24, 25, 26, 64, 65, 85, 86 and 108. On all points "Ortac" is seen as a 3rd party entity during the case. Ex dates ran beyond 180 days (March to September of 2015).
Hopefully everyone will have a better understanding of 'who is Edward Sefuke!"
As implied during Dropbox 2 (DB2) over on LSE (posts now removed):
Edward Sefuke Puts Zamsort into Provisional Liquidation = True
When the court grants that Order then Edward’s Provisional Liquidator will receive all the proceeds from the Anglo transaction = False and libellous!
What is disturbing is NVS and Mushy's lawyers both neglected to attend court last year when the matter came up. The question is why was ARCM so negligent? = The case has nothing to do with Arc.
The mention of Liquidation originated from Smith, however the DB link was supplied by another poster "Zack" to substantiate the claim!
Within the DB link contained 2 items:
1) Post link 8391… this doc was also used by MM&Co during DB1.
2) Twitter link courtesy of Rousey.
https://twitter.com/Rousey59/status/1708927976706875838
ORTAC/ARCM is not titled on page, which shows the dispute is clearly between MM* (Zamsort) and ES (consolidated adv. services Ltd.)
*Kalaba is part of Zamsort’s assets and now under insolvency act 9 of 2017:
hxxps://osall.org.za/docs/2019/07/Zambia-Corporate-Insolvency-Act-9-of-2017.pdf
From the link above… think its like Chapter 11 and not classed as Chapter 7 - distressed fire sales of assets!