KCM liquidator suspended
By MAIMBO MWEEMBA
Konkola Copper Mines (KCM) Provisional Liquidator Milingo Lungu has been suspended.
Mr.Lungu has been suspended by the Official Receiver Natasha Kalimukwa pending the outcome of an inquiry instituted pursuant to section 69 subsection ONE of the Corporate Insolvency Act Number 9 of 2017.
Ms Kalimukwa said Mr Lungu has been notified of the suspension, which has been made following receipt of a complaint lodged by ZCCM Investment Holdings Plc relating to contract mismanagement, financial mismanagement, and asset mismanagement.
She said in statement availed to the Independent Observer that Mr Lungu’s suspension shall neither stop the liquidation process nor lead to a handover of the mining operations to Vendatta Limited.