Tegeta wants Barloworld to withdraw application for Optimum’s liquidation
Gupta-owned Tegeta Exploration is calling on Barloworld to withdraw its court application for the liquidation of Optimum Coal. According to eNCA, Barloworld Equipment made the application after having not received payment for 13 months from Optimum Coal, which it supplies 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 a statement on Thursday, Tegeta said: "Following its purchase of Optimum in April this year, and whilst Optimum was still in business rescue, Tegeta inherited a disputed balance with Barloworld. "Optimum has instructed its bankers to settle the balance (under protest) and insisted on delivery of all supporting documents and invoices to substantiate Barloworld’s claim." Tegeta said the payment was made on October 26 2016, and in view of this, the company and Optimum expected Ba...
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