JOHANNESBURG - The issuing of Section 424 summonses in the drawn-out Pamodzi Gold liquidation case may very well be expected during the course of this week, a spokesperson for that joint provisional liquidators said on Monday.
The lenders Act summonses, which taken care of directors' personal liability for company debts, were anticipated to follow the laying of criminal charges against two directors, in which affidavits were being prepared, joint provisional liquidator Johan Engelbrecht told Mining Weekly Online.
Engelbrecht added which the criminal charges were depending on the "apparent manipulation" of the trust account of 1 of the directors inside transaction between Aurora as well as the JSE-listed Labat, and the stopping of cheques that were issued by another.
Other remaining liquidators, following removal because of the Master in the High Court of former lead liquidator Enver Motala and KPMG's Gavin Gainsford, include Allan Pellow, of Westrust, Deon Botha, of Corporate Liquidation, and Barend Petersen, of Sizwe Business Recoveries.
The "apparent manipulation", Engelbrecht said, stone crusher had come to light during the Companies Act enquiry to the trade, dealings and affairs of Pamodzi, who owns the Groovlei gold mine around the East Rand.
Documents within the liquidators' possession indicated that "certain misrepresentations" linked to Aurora's intended purchase of Labat shares had allegedly been adapted to the Securities Regulation Panel in the Johannesburg Stock Exchange.
These alleged misrepresentations had led to the delay inside timeous cancelling the sale.
Aurora had reportedly certified on the Securities Regulation Panel that monies were on the market to make payment to the minority shareholder when during those times there were no funds in the trust account getting used.
While cheques have been paid to the trust account a couple of days later, we were holding subsequently stopped,
Meanwhile, affidavits being drawn up in support of the criminal charges, along with the supporting documents, would, Engelbrecht said, gold crusher mining be handed to florida African Police Services immediately.
"During the course of soon, we will also proceed that has a Section 424 summonses for the directors. We're also expediting the situation and working flat out to get to finality soon," he included with Mining Weekly Online.
The directors of Aurora Empowerment Systems, the most well-liked Pamodzi bidder, include Aurora Zondwa Mandela, the grandson of former President Nelson Mandela and Khulubuse Zuma, nephew of incumbent South African President Jacob Zuma.
Mandela, who coal crusher processing plant had previously been named in the news statement the liquidators released on Monday, we hadn't, at the time of about to press, responded a message Mining Weekly Online left on his cellphone. Also named was Ahmed Amod, who had previously been described as Aurora's attorney and a current director of Velvet Sky Aviation, a low-cost airline in news reports recently following cancelling and delaying of flights.
It could not be ascertained whether the Aurora directors concerned would defend the experience being brought against them through the joint provisional liquidators.
Recently, Chinese company SSC Mandarin of Hong Kong bought Pamodzi's Orkney gold mine out of liquidation for R150-million and JSE-listed Harmony Gold bought Pamodzi's President Steyn gold mine for R300-million.
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