A High Court judge has placed Konkola Copper Mines (KCM) under liquidation and appointed a PF cadre Milingo Lungu as provisional liquidator
This follows ZCCM Investment Holdings PLC ‘s petition to the Lusaka High Court to to place KCM under liquidation in line with corporate insolvency laws of Zambia.
Milingo Lungu is the PF deputy chairperson for legal affairs and runs a law firm styled ‘Lungu Simwanza and Company.’
The court has given Milingo powers to take custody of all assets of KCM, make payment arrangements with creditors and manage KCM with sole purpose of winding it up.
Interestingly, whoever the judge is, only put his or her signature but no name.