Evraz Highveld-linked companies East Metals and Mastercroft are seeking an urgent court interdict against the implementation of Evraz Highveld Steel and Vanadium’s business rescue plan and its business rescue practitioners.
This follows recent court proceedings instituted against Evraz Highveld, its joint business rescue practitioners and several other affected persons by these companies.
East Metals and Mastercroft approached the High Court last month to have the business rescue plan of Highveld declared invalid and have the vote, which took place at the meeting on 13 October 2015, in terms of which the business rescue plan was adopted, also declared invalid and set aside.
East Metals and Mastercroft have now again approached the court to restrain Highveld and the BRPs from implementing the business rescue plan in respect of Highveld, pending the final determination of the main application stop the implementation of the business rescue plan.
Highveld and the business rescue practitioners intend opposing the application.