Optimum creditors vote in favour of business rescue plan
The plan envisages a debt-to-equity conversion, though this will not apply to state-owned entity Eskom
28 September 2020 - 17:35
The frustrated rescue of the Gupta-owned Optimum Coal Mine can now commence in earnest after creditors voted overwhelmingly in favour of a new business rescue plan.
Lawyers for the business rescue practitioner, Bouwer van Niekerk, said 87% of the creditors voted in favour of the plan at a meeting on Monday, allowing it to be implemented...
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