EMBATTLED telco, Telecel Zimbabwe (Pvt) Ltd (Telecel) has dismissed its placement under “corporate rescue proceedings” first announced in a notice in the Government Gazette dated May 12, 2023.
The Government Gazette published a Notice of Beginning of Corporate Rescue Proceedings of Telecel in terms of section 124(2)(b) of the Insolvency Act.
Telecel shareholders, employees and creditors were notified that a court application for the placement of the company under supervision was filed with the High Court of Zimbabwe on October 10, 2022.
The court application was made by Communication and Allied Service Workers Union of Zimbabwe.
Thus, the notice was issued in terms of the court filing to state that corporate rescue proceedings had commenced in terms of section 124(2)(b) of the Insolvency Act.
However, in a statement yesterday, Telecel board chairperson James Makamba dismissed the notice as nothing, but a legal nullity.
“It is noted by the board with extreme concern that a gazetted notice was published on Friday May 12, 2023 to the effect that corporate rescue proceedings had validly commenced. This is not accurate or true.
Telecel Zimbabwe (Pvt) Ltd wishes to assure the public, stakeholders, creditors and all interested Telecel persons that it continues to provide its services as normal.
“An invalid legal process by the Communication and Allied Workers Union of Zimbabwe was lodged in the High Court of Zimbabwe under HC 306/22 in October 2022 through Gumbo & Associates.
That application was opposed. The outcome of those proceedings awaits a set down date to determine the validity and the merits. The notice as published in the Gazette is considered a legal nullity.”
