Bindura Nickel Corporation to hold first creditors meeting

Zimbabwe Schools Examination Council

Nqobile Bhebhe, Senior Business Reporter

BINDURA Nickel Corporation (BNC), currently undergoing reconstruction, is set to hold its first statutory meeting of creditors and members on 23 April in Harare.

The Victoria Falls Stock Exchange-listed firm was placed under administration on 2 May, 2024 following a Reconstruction Order issued by the Government.

This was enacted under the Reconstruction of State-Indebted Insolvent Companies Act [Chapter 24:27] (the “Reconstruction Act”).

According to a notice issued by the company, the meeting of creditors will commence at 10 AM, followed by the meeting of members in the afternoon.

“The creditors’ meeting is convened to prove claims. Both the creditors’ and members’ meetings shall include a presentation on the ongoing reconstruction work and a statement by the Administrator regarding the reasonable prospects of the Companies’ success pursuant to reconstruction,” the company said.

Creditors seeking to claim owed funds must submit an Affidavit Form for Proof of Claim, along with supporting documentation, in duplicate to the Master of the High Court at the Master’s office, the company added.

During the reconstruction process, all legal proceedings including enforcement actions against the company or any of its assets are prohibited without the express authorisation of the Administrator.

Ms Mutsa Mollie Jean Remba was appointed as the administrator.

Mr Ian Mtetwa is the assistant.