Russian giant withdraws P3bn suit against BCL
Mpho Mokwape | Tuesday December 13, 2016 15:51
By Friday last week, the company had filed a notice of withdrawal before court following the BCL’s strong response to their recent suit and requesting them to give notice of their agreement to withdraw.
Norilsk’s notice to withdraw was confirmed yesterday in court before Judge Gaolapelwe Ketlogetswe when BCL appeared alone for an ex parte application.
BCL, through advocate SC Stephan Vivian, appearing with Otsile Rammidi yesterday said the Norilsk had filed a notice to withdraw the proceedings filed before court.
“Norilsk has issued a notice to withdraw with liberty to reinstate the proceedings at a later stage, hence our application to be given leave to defend,” Vivian said.
Represented by Collins Newman, the Russian giant that had filed suit two weeks back demanding that the local mine comply with a $271 million deal dating back to 2014 or pay damages for breaking it off apparently withdrawn the matter after considering technical issues. The withdrawal that was tendered with costs, comes shortly after last week’s BCL papers filed in the High Court gave them an ultimatum to withdraw the matter.
In the paper before court, Nigel Dixon-Warren, the local company’s provisional liquidator, had pressured the Russians to withdraw their application before consideration by the court, saying the case lacked any credence.
Dixon-Warren said he had “afforded them the courtesy” of withdrawing their papers, believing this was “fair and reasonable” to avoid “expending costs unnecessarily”.
Following the BCL’s lone appearance before court, after filing an ex parte application and submitting a draft order to court, the mining company was granted the orders they sought.
“One of the orders they sought was to be given leave to defend in case the Norilsk reinstate the proceedings at a later stage”.
BCL’s main concern was the fact that the Judiciary will soon take its festive break and as such, the application was to protect the BCL’s assets and allow the provisional liquidator to discharge his mandate.