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CityPress - - Business - Ju­niour Khu­malo –

‘Ur­gent’ Op­ti­mum ap­pli­ca­tion struck off the court roll

An ur­gent ap­pli­ca­tion this week to halt the Op­ti­mum busi­ness res­cue prac­ti­tion­ers from ap­point­ing a man­age­ment com­pany to get in­volved in run­ning the coal mine was struck off the court roll.

Busi­ness res­cue prac­ti­tioner Louis Klop­per said the Pre­to­ria High Court this week heard an ur­gent ap­pli­ca­tion brought by Push­paveni Goven­der, an Op­ti­mum di­rec­tor.

“She sought an in­terim or­der in­ter­dict­ing the busi­ness res­cue prac­ti­tion­ers from im­ple­ment­ing any agree­ment con­cluded by them with Burgh Group Hold­ings ... pend­ing an­other ap­pli­ca­tion for the re­moval of the four busi­ness res­cue prac­ti­tion­ers,” Klop­per said.

Goven­der also sought to have two new busi­ness res­cue prac­ti­tion­ers ap­pointed.

But the judge in the mat­ter struck the ap­pli­ca­tion off the roll for lack of ur­gency.

In an­other de­vel­op­ment Klop­per an­nounced this week that they had reached a man­age­ment agree­ment with Burgh Group Hold­ing to have the group’s op­er­a­tions di­vi­sion, Ez­im­bi­wayo Con­sult­ing, give guid­ance in the turn­around process of both mines.

He said the Burgh Group’s Ez­im­bi­wayo Con­sult­ing would pocket 1% of all turnover gen­er­ated by the for­merly Gupta-owned coal mines, Op­ti­mum and Koorn­fontein, that are in busi­ness res­cue.

This in terms of a 12-month man­age­ment agree­ment con­tract it reached with the busi­ness res­cue prac­ti­tion­ers that are over­see­ing the re­ha­bil­i­ta­tion process of the two op­er­a­tions.

“The man­age­ment agree­ment has been ne­ces­si­tated [be­cause] the prac­ti­tion­ers are lawyers with lim­ited min­ing knowl­edge.

“There­fore, the Burgh Group, with its tech­ni­cal ex­per­tise, comes as a wel­come as­set in the op­er­a­tion of the mines,” said Klop­per.

Quin­ton van der Burgh, CEO of Burgh Group Hold­ings, was quick to point out that: “Ez­im­bi­wayo Con­sult­ing is cur­rently op­er­at­ing 10 mines in the coal min­ing in­dus­try – soon to be­come 15 in June.”

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