Eskom has cut the power at Gupta-owned Optimum coal and wants it liquidated, blaming the mine’s business rescue practitioners for failing to bring it back to profitability
Eskom, which is one of the mine’s major creditors, said in an email sent to the business rescue practitioners and other interested parties, who are expected to vote on the future of the mine, that it leaned towards liquidation.
“The commercial rationale is this – if Eskom is able to prove its full claim , there are simply insufficient funds to satisfy the claim based on the current bids,” Cremen said. “As far as we know, the people who are appointed to rescue Optimum are the business rescue practitioners, not Eskom. The future of Optimum has been hanging in the balance for 18 months since the rescue practitioners took charge of its operations.
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