MASERU — The MKM case against liquidation failed to take off in the Court of Appeal on Friday.
Sources said the court could not sit because judges Craig Howie, John Smalberger, Lionel Melunsky, Jeremy Sauntlett and Duglass Scott, who are all from South Africa, were engaged elsewhere.
The sources said the judges, who include Court of Appeal president Justice Michael Ramodibedi, were not informed in time and therefore could not come.
The case is now likely to be heard in October.
At the same time sources said MKM directors were now pressing to stop the liquidation process pending the outcome of the appeal against the High Court’s May 18 judgment that ordered the liquidation.
MKM directors wanted the Court of Appeal to sit on Friday to hear an urgent appeal against Justice John Musi’s decision to reject their application to delay the liquidation until October.
MKM had approached the Court of Appeal relying on Rule 18 of the Court of Appeal Rules 2006 which allow urgent applications to be heard before the normal sitting of the court.
The application to the Court of Appeal was made on June 22.
The MKM directors have since appealed against Acting Judge Justice John Musi’s judgment which ordered that the company be liquidated so that its 400 000 investors can be paid their dues.
The MKM’s lawyers had notified the Central Bank of Lesotho (CBL), the liquidators, the Master of the High Court, the Attorney General and the trustees representing some investors that its appeal would be heard on Friday.
MKM says it wants the liquidation process delayed because it has prospects of success in the appeal against Justice Musi’s judgment which ordered that MKM should liquidated.
In his affidavit MKM’s managing director, Simon Thebe-ea-Khale, says the Court of Appeal must not allow the provisional liquidators to proceed with the liquidation process because the liquidators are also the subject matter in the pending case before the Court of Appeal.
Justice Musi, in his May judgment, appointed Chavonnes Badenhorst from St Clair Cooper in Bloemfontein and Daniel Gerhardus Roberts from Webber Newdigate as joint provisional liquidators.
MKM says their appointment was in violation of the Companies Act.
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