Zambia Court orders liquidation of Israeli Oligarch, Lev Leviev’s Company

The Court placed Frango Finance Ltd, in compulsory liquidation after receiving a petition on February 18

A Zambian court has ordered the liquidation of a company owned by Israeli diamond billionaire, Lev Leviev in the height of a protracted dispute with his local partner over an emerald mine.

The Zambian High Court placed Frango Finance Ltd., which owns half of Gemcanton Investments Holdings, in compulsory liquidation after receiving a petition on Feb. 18.

Leviev will contest the order, said his lawyer, Dickson Jere. “We have been served with an order which was issued without hearing my client. We will be going to challenge it in court as Frango is not even a Zambian-registered company.”

Leviev and Abdoulaye Ndiaye became embroiled in legal battles soon after the diamond magnate bought half of what was previously known as the Grizzly Emerald mine from Ndiaye in Zambia’s Copperbelt province in 2015.

Your Friends Also Read:  Private electricity generation by Nigeria manufacturers gulps $684m in two years

The company was incorporated in 1997 and is based in Kitwe, which is located in the country’s mining region.


All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from News Central TV.

Contact: digital@newscentral.ng

Total
0
Shares

Leave a Reply

Previous Article

Libya's 'green gold' olive industry may boost economy

Next Article

Sadio Mane's house burgled while in action for Liverpool

Related Posts
Powered by Live Score & Live Score App