Auctions

SEGOPOLO J.IN THE HIGH COURT FOR THE REPUBLIC OF BOTSWANA HELD AT GABORONE CASE NO: UAHGB – 000292 - 24In the matter between:KAGISO LOPANG PetitionerandPHUTHOLOGO HOLDINGS (PTY) LTD RespondentORDER NISIBefore the Honourable Justice Mr I. Segopolo at GABORONE on the 3rd day of December 2024.UPON HEARING Mr. Attorney Isaac Seloko for the Petitioner and there being no appearance for the Respondent and having read the documents filed of record.IT IS ORDERED THAT:An order is granted as per the draft order nisi as follows:1. A Rule Nisi be and is hereby issued returnable on the 19th day of February 2025 at 0930 hours or soon thereafter as Counsel may be heard calling upon the Respondent to show cause why a final Order should not be made;1.1 The Respondent company, Phuthologo Holdings (Pty) Ltd, be placed under provisional liquidation in terms of the Companies Act;1.2 Godfrey Madumbu is hereby appointed the Provisional Liquidator.1.3 While this order remains in force the Respondent shall be under the direction and management of the Provisional Liquidator Godfrey Madumbu, and that the said Provisional Liquidator shall himself be subject to the supervision of the Registrar and Master of the High Court.1.4 As from today any other person or persons vested with the management of the Respondent’s affairs shall be divested thereof, and that the affairs of the Respondent shall forthwith be managed by the Provisional Liquidator appointed in terms of this order;1.5 That the Provisional Liquidator shall discharge the duties prescribed by Section 384 as read with affected Sections of the Companies Act;1.6 That the Provisional Liquidator shall be empowered without the authority of the shareholders but subject to the authority of creditors and the Master, to borrow money with or without security on behalf of the Respondent for the purpose of paying essential running expenditures in and about the business of the Respondent including salaries, wages and utilities for the business required by the Respondent and to pledge the credit of the Respondent for any goods or services required;1.7 That while the Respondent is under Provisional Liquidation all actions, proceedings, the execution of all writs, summons and other processes against the Respondent be stayed and be not proceeded without leave of this Court being obtained.1.8 That the rate of remuneration of the Provisional Liquidator be fixed by the Master in accordance with the services rendered and the disbursements incurred, or should the Master so request, the said rate of remuneration be fixed by the Court after the Master has reported thereon;2. That the costs of this petition shall not be costs in the liquidation.3. That a copy of this Order be published forthwith twice in the Government Gazette on Friday of 6th December 2024 and 17th January 2025 and, twice in the Mmegi newspaper on 11th December 2024 and 15th January 2025.4. That the service of this order be effected upon the Respondent at its registered office.5. The Respondent or any creditor of the petitioner may anticipate the return day for the purpose of discharging the order if twenty-four (24) hours’ notice of such application has been given to the petitioning creditor.7. Paragraph 1.7 operates forthwith as interim orders pending the return date.