NPA steps in as Optimum Coal Terminal interdict falls away | Fin24

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An attempt by Gupta affiliates to derail the business rescue proceedings of Optimum Coal Terminal has failed, but now the National Prosecuting Authority is stepping in.

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A bid by Gupta affiliates to halt the business rescue proceedings of the Optimum Coal Terminal was dismissed by the Johannesburg High Court.

The Optimum Coal Terminal is a coal export facility, and its rescue is linked to that of the Optimum Coal Mine. The drawn-out rescue of the mine, which is finally nearing completion, hinges on the successful rescue of the Terminal, through which – in the absence of a forthcoming supply contract with Eskom – Optimum Mine’s coal production will be funnelled.

The court dismissed the case, with punitive costs. An interim interdict, which had stopped the rescue practitioners from proceeding with a creditor’s meeting for the Terminal, has automatically been discharged.

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