The Democratic Republic of Congo’s state-owned copper and cobalt miner, Gecamines is challenging a ruling by a local court that it owes an Israeli billionaire, Dan Gertler, a $168 million loan.
Gertler’s Fleurette Mumi Holdings Ltd. offered a 200 million-euro line of credit to Gecamines in October 2017, two months before he was sanctioned by the U.S. government for alleged corruption related to Congo deals.
Gecamines announced in a statement that Fleurette Mumi has since changed its name to Ventora Development Sasu, one of Gertler’s companies, following the sanction.
Last month, a Lubumbashi-based commercial court ordered Gecamines to repay the principal loan and interest to Ventora Development Sasu, one of Gertler’s companies singled out by the U.S. sanctions.