Lusaka High Court Judge Anessie Banda-Bobo has dismissed Vedanta Resources Holdings Limited’s application to stay the winding-up proceedings against Konkola Copper Mines (KCM) and refer parties to arbitration.
Justice Banda-Bobo has ruled that the matter is not a proper case to refer the parties to arbitration.
Vedanta said it is reviewing the ruling and will then make a decision on its next steps.
Justice Banda-Bobo has since given the 27th of August as the hearing date for the winding-up petition brought by ZCCM-IH – preliminary arguments will be heard on the 13th of August.
Excellent judgement!! Uyu Bobo ( What ever this means) is a very good judge!!! Give us our KCM now!!!!
Yeah Iam with you on this one!
I didn’t understand a $hit. Translate in Bemba or Tonga.
What is “stay”? Vendata shouldn’t stay, before they leave they should pay soccer players arrears for Nchanga and Konkola blades.
This is how bad Vendata is, even football teams got relegated to division one.
Vendata did not come with their own Law which Zambia had to agree with. They came to Zambia to do business and by that – they had to abide by the laws in our constitution or any laws that have been created and added on thereafter.
When you go into such agreements you start with the standard framework contract abiding by law. Rather the basis. Then its up to the [ 2 Parties ] to ADD CLAUSES which must be agreed by both parties.
These guys have [disowned] and [disrespected] both the LAWS in the contract. And the CLAUSES which were agreeable by both parties.
There is a lot that we don’t know, which is in the CLAUSES. Surface that, so far,they have shot themselves in the legs looking at the failures that are there in black and white.
@Kalaba
Bobo in Spanish means a f00l or stup¡d person.
Of course this judge is not Spanish and not stup¡d so her name should be judged in the context of her tribe.
There is no way this stupid Judgement can override the Judgement given by the International Arbitration Court in JHB, RSA. Zambia is a Signatory to the International Arbitration Act and to breach this International Law will have serious consequences for Zambia. This Judgement is irrelevant and is Null and Void. Vedanta will just proceed with Arbitration in a South African Court and if ZCCM-IN doesn’t co-operate then Vedanta will seek Remedies from the International Arbitrator. Zambia inevitably will have to pay Damages and Compensation to Vedanta. The writing is on the Wall.
This Judgement has misdirected herself. Zambian Courts have no Jurisdiction over the KCM Shareholders Agreement which provided that all Shareholders Disputes will be settled by an International Arbitrator in a South African Court in JHB. This State Captured Judge is singing for her Super but the Cause is lost. Justice Bobo’ s Judgement is irrelevant and Null and Void. Period.
Jurisdiction ati shani apo.
Niggaz are left wondering.
When I say niggaz, I mean all UPNDEADs and their sympathizers.
Lets rock & roll folks.
Ala tweende webo Judge Bobo … this is what proper interpretation of the law does. Great call!!!
It’s amazing what this breed of Africans called the smart people of the Zambian Enterprise can achieve when they put their minds to it.
Tweende Zambia; tweende Bobo … Epo mpelele,
BRM
It is a blabber of PF Cadre masquerading as a judge. The PF cadrism is going to cost taxpayers 3 billion dollars judgment and if not careful presidential plane and ZCCM assets overseas will be seized overseas. President will be made to walk to Zombieland
Well done. We are nation of laws. Vedanta must stop insulting the intelligence of Zambians. Its amazing to see some bloggers celebrating the arm twist of Vedanta. On this one, we are with government.
You have no clue about what’s written in the Shareholder’s agreement..ignorant chaps who will taxed heavily to pay off Vandanta.
@Jay Jay, what is written in the shareholder’s agreement regarding insolvency of kcm? Your Indian crooks screwed themselves the moment they deliberately ignored to pay their bills. Where in the world have you seen an insolvent company being absorbed by the shareholders agreement? Read the insolvency act of 2017. Vedanta were operating in Zambia, and so they are fully bound by the laws obtaining in this country.
@Jay Jay, we have read some of the agreements. It’s Vendata to pay GRZ. Like HH said that Vendata should have been fired 7 years ago.
The Zambia Revenue Authority did not renew the contract for chief internal auditor Kwibisa Siyunyi, the husband to Director of Public Prosecutions Lillian Siyunyi, because of incompetence, the Zambia Reports has established.
Additionally, Mr Siyunyi could not pass security clearance, which is a requirement for the position he held, just like those of the Commissioner General, commissioners and directors.
Social media has had a story alleging that Commissioner General Kingsley Chanda was involved in a scam concerning the purchase of furniture worth K1 million, which Mr Siyunyi allegedly uncovered.
ZRA has, however, been purchasing furniture for Commissioner Generals since 1994, which furniture remains ZRA property.
And in this case, the furniture purchased for Mr Chanda was in line…
Continued
And in this case, the furniture purchased for Mr Chanda was in line with the conditions of service for ZRA CG.
This is a fact Mr Siyunyi knows and he never queried it but the Auditor General’s office which later discovered it was an approved condition of service.
The allegations are further indicating that Mr Siyunyi was dismissed for reporting the matter and for being Lozi.
Double jay is a f00l.
Crazy baldhead nigga.
Let’s rock & roll folks.
Really laughable …Lusaka high court is full of jokers!!
Jay jay answer the question…@Jay Jay, what is written in the shareholder’s agreement regarding insolvency of kcm?
The goodness is that he will NEVER be a president in Zambia.
Double jay is a f00l.
Crazy baldhead nigga. He is hallucinating again. Stay off drugs kid.
Let’s rock & roll folks.
These are Issues that makes UPND cadres bleed from the Ass. Apa nomba nabafulwa
fipuba, very useless animals!
This government isn’t transparent. they always lie to Zambians by throwing sound bites and Zambians being so “mannered” don’t ask tough questions
why can’t the government make public what’s contained in the agreement, how much is vendata in fact owing? it’s not a state secret, so put it out in the open, that way the government can in fact have the backing of it’s citizens.
the fact that they are not doing that leads to speculations and where there are speculations anything is fair game
Zambians don’t read… even if Government laid bare the agreement with Vadanta, Zambians like their soon to be King Lungu of Zambia would rather imbibe jermerson.
Ask them if they understand Bill 10 will make their humble leader King of their country, they have no clue and will defend till they are blue in the face with a bottle of jermerson in their hands.
Zambians red if the material is in straight forward language not legal terminology intended for the so called learned liars called lawyers
Its now a merry-go-round.This will drag on and on.Whereas Judge Bobo has set 27th August as a date for hearing the winding up petition, the Attorney General wants to appeal the ruling from the South African court.
Guys I am looking for young people who need funding for businesses in Zambia. I will sponsor you please email me your idea and we can talk.
Don’t buy this…IT’s A NIGERIAN-TYPE SCAM
Typical dull Zambian who is in the UK as an economic asylum seeker. We are trying to help those poor relatives you left back in Zambia while you live on benefits here in UK
N.e.e.z, please give more details about yourself. There are few gullible fools now that shall easily jump for this 419 scam. Start by publicizing your own email address first on this forum. Otherwise,please, belt up!
@JAYJAY
Zambians please be patriotic with national issues, Its seems you don’t know nothing about this issue because you talking as if you don’t leave in Zambia and you don’t know what the vedanta as done to the share holders agreement since 2013 they have been breaching the share holders agreement, our able government will not fail us on this one. God bless mother Zambia.
People like jay jay don’t understand anything about patriotism as they were born after 1991. They think being patriotic is going against ayatollah hakainde hichilema
“Its been 9 years [since we’ve owned the company], and since then every year it is giving us a minimum of 500 million dollar, plus 1 billion dollar, every year it has been continuously giving back.”
Anil Agarwal also explains in detail how he came to buy ‘the largest copper mine in Africa’ at Konkola, describing how he took a chance by offering only $25 million rather than the $400 million asking price.
He describes his surprise at receiving a VIP welcome in the Zambian parliament, and ridicules the then Zambian President Levy Mwanawasa for claiming that Vedanta would improve the lives of Zambians, saying:
“He told the entire parliament that what great people we are, and our empire, and that they will make our lives gorgeous. And they will make schools, make hospitals and blah…
This is the reason why the majority non partisan zambian’s would be discouraged to support UPND, JAY JAY! You are not in tune with the majority zambian’s and you seem to oppose anything good that will favour the citizens,the more i see such comments,the more i conclude your prefered candidate should not come anywhere near the corridors of power.
On this kcm issue,I am with the government.
Winning at home is not winning.
Match is played home and away.
Let’s wait for return match in South Africa. So let’s wait for judgement
In South Africa.
Rubbish.what international law.We also have laws here which must be respected .KCM and our copper are in Zambia and not in south Africa.Let these *****s buy a mine in RSA and mine there.We dont need their asses here.Trump say let them go
Good kudge.let them Goooòooooooooooooo.
Even Bitter Hakiende h with his inherited under 5 party admits these small time crooks should have been kicked out. Remember he gave “infestment” advice to FTJs led privatization program on the dismantling of state assets albeit at a low price so he is a guru on identifying poor “infestors” something his timid followers should know
The Stay ruling means KCM will stay in Zambia, just to clarify things.
Exclude politics and talk something that is making sense
Vedanta is not above the Zambian law as long as they operate in Zambia. Just look at the evil track record of defying court orders, understating production etc. Look at just how these foreigners have left us more poor than before. Try doing business in India the way Argawal & team did in Zambia and see if you can get away with it. Argawal has made me hate Indians to the core.
Comment:we are watching and marking all you and your leadership do and say election are around the corner, 2021.
Comment:does it mean when you are in opposition you everything the govt does? Watchout chaps