Vedanta asks court to throw out KCM liquidation case

VEDANTA Resources Limited has applied to have the Konkola Copper Mines (KCM) liquidation case dismissed on grounds that ZCCM-IH is in continued breach of the dispute resolution provisions of clause 24 and 26 of the Shareholders Agreement. The company further notes that following the ruling of the Arbitral tribunal, the grounds relied upon by ZCCM-IH in the petition and the accompanying verifying affidavits before court should be struck out, the petition should be dismissed and the provisional liquidator of KCM be discharged. This is a matter in which ZCCM-IH petitioned the Lusaka High Court, seeking an order that KCM should be wound up for engaging in tax evasion and being managed in a manner detrimental to its interest, among other...