Telecel Zimbabwe Says Corporate Rescue Proceedings Have Not Commenced

 

Telecel Zimbabwe, the country’s third and smallest mobile network has refuted reports doing rounds that it its now under corporate rescue procedures in a report signed by the board chairman Mr James Makamba.

This means, in any  process no action or proceedings shall be proceeded with or commenced against the company except by leave of the court and subject to such terms as the court may impose.

However the Telecel board says this phase has not yet been reached and states that the published gazette was challenged in the court and hence it is not yet of any legal effect as the court  are yet to decide

Telecel in at statement states that

An invalid legal process by the Communication and Allied Workers Union of Zimbabwe was lodged in the High Court of Zimbabwe under HC 306/22 in October 2022 through Gumbo & That application was opposed. The outcome of those proceedings awaits a set down date to determine the validity and the merits.

The Notice as published in the Gazette is considered a legal nullity. The belated Notice tries to sanitize procedural defects raised in opposition by our lawyers Honey and

TELECEL ZIMBABWE (PVT) LTD PRESS STATEMENT ON RECENT CORPORATE RESCUE REPORTS

1. It is noted by the Board with extreme concern that a Gazetted Notice was published on Friday 12 May 2023 to the effect that Corporate Rescue Proceedings had validly commenced This is not accurate or true.
2. Telecel Zimbabwe (Pvt) Ltd wish to assure the public, stakeholders, creditors and all interested Telecel persons that it continues to provide its services as
3. An invalid legal process by the Communication and Allied Workers Union of Zimbabwe was lodged in the High Court of Zimbabwe under HC 306/22 in October 2022 through Gumbo & That application was opposed. The outcome of those proceedings awaits a set down date to determine the validity and the merits.
4. The Notice as published in the Gazette is considered a legal nullity. The belated Notice tries to sanitize procedural defects raised in opposition by our lawyers Honey and
5. All interested stakeholders, including the public, our customers and creditors are assured that there is no valid basis to assert that Telecel is unable to discharge payments of any valid debt or is incapable of discharging its service provisions to the public, beyond the normal constraints exerted by the current tough operating
6. The Board and Stakeholders of Telecel shall continue providing its services professionally and are currently seized with advanced plans to inject fresh capital into the organisation as it enters a new exciting phase of sustainable
7. We wish to thank our customers and other interested stakeholders who have consistently stood by us during very difficult times.

Dr. James Makamba Board Chairperson

On behalf of the Telecel Zimbabwe Board of Directors 23 May 2023