Rockwell Diamonds in urgent court bid to stave off liquidation
Rockwell, which is seeking business rescue, is suspended from trade in Johannesburg and Toronto with C-Rock Mining trying to force it into liquidation
Rockwell Diamonds, which is suspended from trade in Johannesburg and Toronto, has filed for business rescue to stave off attempts by a contractor to liquidate the company. Rockwell had an interim liquidation order awarded against it in March by a judge in a Kimberley court after which it applied for trade in its shares to be suspended. Rockwell argued that the judge did not consider its arguments in hearing the liquidation case brought against its three subsidiaries by C-Rock Mining and has asked that the final hearing, set down for June, be brought forward on an urgent basis. "The interim order was issued after a short hearing where none of the company’s rebuttal evidence was considered by the court," Rockwell said. "The company remains persuaded that its case for dismissal of the liquidation application is sound, and after a full hearing it believes it should prevail and C-Rock Mining’s actions will be shown to be spurious and without foundation." Interim liquidators have been app...
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