Prominent transport operator Kukura Kurerwa Bus Service (Pvt) Ltd has finally been placed under provisional liquidation after the High Court granted the sought order following an application by the firm’s director, Patrick Nyariri.
BY CHARLES LAITON
The order, which now awaits a final confirmation to be made on August 29, 2018, was granted yesterday by High Court judge Justice Clement Phiri.
This was after Nyariri had petitioned the court seeking an order for the firm’s winding up in terms of section 206 of the Companies Act on the basis that the shareholders had held an extra-ordinary general meeting and passed a special resolution for the move.
Nyariri said the reasons motivating the special resolution was “because of the debilitating economic conditions and that the company had been struggling and owing its creditors over $2 million which it had failed to pay”.
“The applicant (Kukura Kurerwa Bus Service (Pvt) Ltd is hereby placed in provisional liquidation pending the granting of an order in terms of paragraph 3 hereof, or the discharge of this order,” Justice Phiri said.
“Subject to sub-section (1) of section 274 of the Companies Act (Chapter 24:03), the Master of the High Court is, hereby, directed to appoint a suitable, qualified and experienced person as provisional liquidator of applicant, with all the powers set out in section 221 of the Act provided that on disposal of the company as a going concern the investor shall re-engage all the required employees from the current employees of the applicant, except if specific skills are required which are not available in the current employees.
“Any interested party may appear before this court sitting at Harare on August 29, 2018 to show cause why a final order should not be made for liquidation of the applicant, and an order that the costs of these proceedings be costs in the liquidation.”
Just recently, the High Court also issued a writ of execution to the company’s employees, who approached the court seeking to recover over $442 035 in outstanding salaries and terminal benefits.
The writ of execution was granted on July 26, 2018 following a successful application by the employees to register their Labour Court judgment as a court order.