Barloworld Equipment claim comes back to haunt Optimum
Gupta-owned coal mine may end up in business rescue — again
Less than two months after being discharged from business rescue, Optimum Coal is facing a possible return following reports that Barloworld Equipment has applied to the high court for the liquidation of the company. The quantum of Barloworld Equipment’s claim, which apparently runs to millions of rand, was disputed by Optimum when it was in business rescue. Because of this dispute, the claim was not settled at the time Optimum was discharged from business rescue on August 31. According to eNCA, Barloworld Equipment made the application after not receiving payment from Optimum Coal for 13 months of supplying it with goods and services. It is understood Optimum Coal was leasing equipment from Barloworld Equipment during that period. The company, which is part of the listed Barloworld group, said it did not make the decision to go to court lightly. In August 2015 Optimum Coal was placed in business rescue by its previous owner, Glencore, following a protracted disagreement with Eskom ...
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