The Business Rescue Practitioners (BRPs) have argued that if the mine were to be given to the state creditors, employees will suffer.
The BRPs, who are currently in charge of Optimum Coal Mine near Middelburg in Mpumalanga, argued in opposition of an application for the Gupta-owned mine to be attached and forfeited to the state.
Having taken over the mine in February 2018, the practitioners saw their rescue plan get overwhelmingly voted for by creditors of the Optimum Coal Terminal.
The plan would see the mine being taken over by former Gupta associate Daniel McGowan, but now it has been halted by the court action by the National Prosecuting Authority.
Adv Greg Wickins, who represented the BRPs, said the National Director of Public Prosecutions (NDPP) is attempting to use the Prevention of Organised Crimes Act (Poca) to stop the BRPs from doing their work of saving the mine.
He said the mine was not in the state that it was in 2015 and needed a capital injection to enable it to operate.
“If the plan was implemented and there's... call it guilty property... the guilty property can be pursued by the state wherever it could be found,” Wickins said.
He argued that if the court would allow the mine to be attached that would affect many people and entities who have been waiting for four years.
“There are thousands of creditors and employees, they have been waiting for years to get to this point. Does the state really suggest that the plan (business rescue) should not be implemented and rather the creditors and employees should come to the forfeiture stage and lodge their applications there for their interests to be excluded from a forfeiture order?” he asked.
Wickins said “the administration of justice would buckle under those kinds of applications”.
“Let the business rescue process play out, let it be implemented, let the innocent receive their due, let them go on and those who receive the guilty party the state can stop them immediately,” argued Wickins.
The NDPP has argued that if their preservation application aimed at seizing the mine was not granted, the mine would fall into the hands of McGowan, who has a “pedigree of state capture”.
'If state takes over Gupta mine, linked economic activities will suffer'
Image: Alaister Russell
The Business Rescue Practitioners (BRPs) have argued that if the mine were to be given to the state creditors, employees will suffer.
The BRPs, who are currently in charge of Optimum Coal Mine near Middelburg in Mpumalanga, argued in opposition of an application for the Gupta-owned mine to be attached and forfeited to the state.
Having taken over the mine in February 2018, the practitioners saw their rescue plan get overwhelmingly voted for by creditors of the Optimum Coal Terminal.
The plan would see the mine being taken over by former Gupta associate Daniel McGowan, but now it has been halted by the court action by the National Prosecuting Authority.
Adv Greg Wickins, who represented the BRPs, said the National Director of Public Prosecutions (NDPP) is attempting to use the Prevention of Organised Crimes Act (Poca) to stop the BRPs from doing their work of saving the mine.
He said the mine was not in the state that it was in 2015 and needed a capital injection to enable it to operate.
“If the plan was implemented and there's... call it guilty property... the guilty property can be pursued by the state wherever it could be found,” Wickins said.
He argued that if the court would allow the mine to be attached that would affect many people and entities who have been waiting for four years.
“There are thousands of creditors and employees, they have been waiting for years to get to this point. Does the state really suggest that the plan (business rescue) should not be implemented and rather the creditors and employees should come to the forfeiture stage and lodge their applications there for their interests to be excluded from a forfeiture order?” he asked.
Wickins said “the administration of justice would buckle under those kinds of applications”.
“Let the business rescue process play out, let it be implemented, let the innocent receive their due, let them go on and those who receive the guilty party the state can stop them immediately,” argued Wickins.
The NDPP has argued that if their preservation application aimed at seizing the mine was not granted, the mine would fall into the hands of McGowan, who has a “pedigree of state capture”.
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