Tati Nickel ordered out of liquidation

Friday, April 13, 2018

Tati Nickel is out of liquidation ....for now

The High Court on Tuesday broke new legal ground by ordering Tati Nickel Mining Company out of liquidation, in a move that its liquidator says is "unprecedented, incomprehensible, unfathomable" and which could trigger a stampede by creditors owed P1 billion by the mothballed operation.

In a terse and tense session on Tuesday morning, Justice Zein Kebonang discharged the rule nisi which had given Tati Nickel the cover of provisional liquidation since October 2016 when it shut down as part of BCL Limited.

Lawyers representing the liquidator, Nigel Dixon-Warren, had gone to court seeking an extension of the provisional liquidation, arguing that six more months were needed to finalise a deal involving indicative offers from at least two bidders.

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Tati Nickel ordered out of liquidation

The High Court on Tuesday broke new legal ground by ordering Tati Nickel Mining Company out of liquidation, in a move that its liquidator says is "unprecedented, incomprehensible, unfathomable" and which could trigger a stampede by creditors owed P1 billion by the mothballed operation.