{"id":101701,"date":"2019-09-13T08:00:21","date_gmt":"2019-09-13T06:00:21","guid":{"rendered":"https:\/\/mobserver.co.za\/?p=101701"},"modified":"2019-09-12T11:17:43","modified_gmt":"2019-09-12T09:17:43","slug":"creditors-committee-slams-optimums-brps","status":"publish","type":"post","link":"https:\/\/develop.citizen.co.za\/middelburg-observer\/news-headlines\/2019\/09\/13\/creditors-committee-slams-optimums-brps\/","title":{"rendered":"Creditors\u2019 committee slams Optimum\u2019s BRPs"},"content":{"rendered":"

The creditors formally established a committee in order to bulldoze their way into all negotiations with the sale of Optimum and Koornfontein mines.<\/p>\n

Up to now, creditors were reluctant to come out publicly. But, after a year of unsuccessful business rescue, it\u2019s clear that the silent approach plays into the hands of business rescue practitioners, who they claim are stalling the unwinding process.<\/p>\n

Creditor Committee Chairman Mr Ian Visser told the\u00a0Middelburg Observer\u00a0<\/i>that Eskom categorically denies stalling the bidding process as alluded to buy business rescue practitioners.<\/p>\n

Likewise, the committee says Eskom\u2019s penalty claims against Optimum for supplying substandard coal, is unrealistic and untenable, while Centaur is claiming 100 cents per rand for debts owed. The committee says that Eskom has no workers at the mines and is a growing concern, with bailouts from the government and the taxpaying society.<\/p>\n

Also read: Sanlam probeer Gupta myners help<\/a><\/strong><\/p>\n

The committee agrees with Centaur that Eskom\u2019s inflated claim places both parties’ 100 cents to the rand affirmation in jeopardy.<\/p>\n

\u201cWe represent thousands of affected workers, contractors and sub-contractors, why are the BRPs only seeking to protect certain interests, while our businesses go bankrupt?\u201d Mr Visser asks, adding that the ongoing delay in payments has resulted in public unrest and one suicide that he is aware of.<\/p>\n

Business rescue practitioner Richard Knoop and a legal representative were present at Friday\u2019s meeting, where creditors demanded to be included in all future negotiations.<\/p>\n

The committee petitioned the BRPs through their legal representation to be included in Wednesday\u2019s meeting between the BRPs, Eskom and Centaur.
\nThe request was denied and instead, a meeting was scheduled with the committee for Friday.<\/p>\n

Also read:\u00a0Hundreds protest in front of Optimum for salaries<\/a><\/strong><\/p>\n

According to the committee, they will go to court if they must, to demand inclusion, which the BRPs can ill afford since they\u2019ve been embroiled in more than 40 court cases, many of which were aimed at removing them.<\/p>\n

BRPs were supposed to have tabled a business plan by Friday, which also didn\u2019t happen. \u201cThe longer they stay on, the more money they pocket,\u201d Mr Visser objects.
\nHe says that without the inclusion of the creditors\u2019 committee the impasse will continue.<\/p>\n

Mr Knoop says as BRPs they have nothing to hide, and it remains their prerogative who to include and exclude from certain meetings.<\/p>\n

He says BRPs will meet with the committee regularly to discuss progress and that their fear that they are being excluded in order to hide certain facts from them, is unfounded.
\nMr Visser says they won\u2019t fall for any more bullying tactics and fight for inclusion since their members\u2019 interests have been sidestepped for too long.<\/p>\n","protected":false},"excerpt":{"rendered":"

Creditors feel sidelined by Optimum\u2019s business rescue practitioners, who they accuse of exclusively engaging with the mine\u2019s two biggest creditors, Eskom and Centaur, while combined, they eclipse the debts owed.<\/p>\n","protected":false},"author":8164,"featured_media":83304,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"hasGravity":false,"cxt_article_byline":"Gerhard Rheeder","cxt_disable_google_ads":false,"footnotes":""},"categories":[7,2],"tags":[20682,20686,20685,10010,12898,20683,20684,10333],"class_list":["post-101701","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-local-news","category-news-headlines","tag-creditors-committee-slams-optimums-brps","tag-gupta-mines","tag-liquidation-of-gupta-mines","tag-local-news","tag-middelburg-news","tag-optimum-brps","tag-optimum-under-business-rescue","tag-trusted-news"],"category_labels":{"Category":"News","SubCategory":"Local news"},"tag_labels":["creditors' committee slams optimum's brps","gupta mines","liquidation of gupta mines","local news","middelburg news","Optimum BRPs","optimum under business rescue","trusted news"],"_links":{"self":[{"href":"https:\/\/develop.citizen.co.za\/middelburg-observer\/wp-json\/wp\/v2\/posts\/101701","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/develop.citizen.co.za\/middelburg-observer\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/develop.citizen.co.za\/middelburg-observer\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/develop.citizen.co.za\/middelburg-observer\/wp-json\/wp\/v2\/users\/8164"}],"replies":[{"embeddable":true,"href":"https:\/\/develop.citizen.co.za\/middelburg-observer\/wp-json\/wp\/v2\/comments?post=101701"}],"version-history":[{"count":0,"href":"https:\/\/develop.citizen.co.za\/middelburg-observer\/wp-json\/wp\/v2\/posts\/101701\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/develop.citizen.co.za\/middelburg-observer\/wp-json\/wp\/v2\/media\/83304"}],"wp:attachment":[{"href":"https:\/\/develop.citizen.co.za\/middelburg-observer\/wp-json\/wp\/v2\/media?parent=101701"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/develop.citizen.co.za\/middelburg-observer\/wp-json\/wp\/v2\/categories?post=101701"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/develop.citizen.co.za\/middelburg-observer\/wp-json\/wp\/v2\/tags?post=101701"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}