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Zambia presses on with liquidating Vedanta unit assets

23/07/2019 par Ancien313933 1
Zambia presses on with liquidating Vedanta unit assets despite ruling
Reuters Reuters
Tuesday July 23, 2019 08:40
Kitco News
LUSAKA, July 23 (Reuters) - Zambia said on Tuesday it was proceeding with the liquidation of Vedanta Resources’ Konkola Copper Mines (KCM) even after South Africa's High Court granted the firm an urgent interdict halting the liquidation until a final decision is made through arbitration.

Mines Minister Richard Musukwa said foreign judgments are not enforceable in Zambia until they are registered in local courts.

"To that effect, it has no effect on the processes that are going on in Zambia," he said, referring to the South African judgment.

(Reporting by Chris Mfula, editing by Louise Heavens)
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