Sale of Gupta-linked Optimum thwarted as court grants preservation order | Fin24

The North Gauteng High Court in Pretoria has granted the National Prosecuting Authority's request for a preservation order over the Optimum Coal Mine and Terminal, scuppering the sale of the mine to a former Gupta associate.

The mine has found itself at the centre of state capture allegations after it was acquired by the notorious Gupta brothers, with the help of Eskom, in 2015. Late last year the National Director of Public Prosecutions approached the court for the preservation order on the basis that the property in question was acquired through the proceeds of crime and was also the instrumentality of crime as it was used to launder ill-gotten funds.

The National Union of Mineworkers also argued that a preservation order would deprive the employees of their vested rights.

Law Law Latest News, Law Law Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

NPA wins first leg in bid to get Gupta mine forfeited to stateThe Guptas’ Optimum Coal Holdings – including the Optimum Coal Mine and the Optimum Coal Terminal – have been preserved by an order of the high court in Pretoria.
Source: SowetanLIVE - 🏆 13. / 63 Read more »

Inside the key court case to determine who will supply SA with emergency power | Fin24A court hearing that started on Tuesday will determine whether South Africa can move forward with an emergency power project. The ruling will also be critical for the businessman who blocked the plan with his lawsuit.
Source: Fin24 - 🏆 21. / 63 Read more »

Bolt ‘rapist’ cannot be granted bail investigating officer tells courtIn an affidavit he submitted in support of bail, the accused conceded he had been charged with rape previously but said the case had subsequently been withdrawn.
Source: TheCitizen_News - 🏆 6. / 75 Read more »

Fightback against court order stopping Amazon’s Cape Town headquarters constructionThe developers of the River Club mixed-use complex, which is set to include Amazon’s new African headquarters, said they would not allow a small group to block a world-class project that will create social, economic, and heritage benefits for First Nations people.
Source: mybroadband - 🏆 11. / 67 Read more »

Court to highlight Madibeng’s ‘huge profits’ from electricity salesIntensive users challenge Nersa’s tariff approvals in Madibeng.
Source: TheCitizen_News - 🏆 6. / 75 Read more »