JUST IN: CSC creditors reject Ngoni Kudenga …Majoko voted interim rescue practitioner

01 Apr, 2021 - 13:04 0 Views
JUST IN: CSC creditors reject Ngoni Kudenga …Majoko voted interim rescue practitioner

The Chronicle

Oliver Kazunga, Senior Business Reporter

 CREDITORS of the defunct Cold Storage Company have voted Mr Vonani Majoko of Majoko and Majoko Legal Practitioners as the new interim corporate rescue practitioner for the country’s meat processor and marketer.

Mr Majoko takes over from Mr Ngoni Kudenga of BDO Zimbabwe who was appointed the interim corporate rescue practitioner by the Minister of Lands, Agriculture, Fisheries, Water and Rural Resettlement, Dr Anxious Masuka last year.

The minister, through a High Court application, successfully placed CSC under reconstruction interdicting creditors from attaching the parastatal’s assets. During CSC first creditors’ meeting under interim corporate rescue held in Bulawayo before the Master of the High Court Wednesday, creditors raised concerns that Mr Kudenga’s close relationship with Minister Masuka and previous involvement in CSC presented a conflict of interest.

Creditors that attended yesterday’s meeting at the Zimbabwe International Exhibition Centre included representatives of former CSC management and workers, urban councils such as Bulawayo, Gweru and Mutare as well as parastatals like the Zimbabwe Electricity Transmission and Distribution Company, and the National Social Security Authority (NSSA), among others.

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