Patience is wearing thin among workers and suppliers at the embattled Shiva Uranium, which has been plunged into limbo as it awaits a decision by the Companies Tribunal In October, a dispute arose over the appointment of two new business rescue practitioners to Shiva. Christopher Monyela, who was appointed as a practitioner in June, raised the matter with the Companies and Intellectual Property Commission (CIPC), and the matter was taken to the Companies Tribunal where it was heard on October 25. Shiva and eight other Gupta-associated entities were put into business rescue — a provision in law for the rehabilitation for distressed companies — in February, when they lost their banking facilities. In July Shiva operations were closed and workers have received no income since. Although there was no disagreement at the hearing that the matter was urgent, Friday marked 21 days since the hearing. Matters at the Tribunal usually reach a resolution within 25 working days. In the interim, th...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now