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.

Source: Law Daily Report (lawdailyreport.net)

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