HARARE — Truworths Zimbabwe Ltd. has been placed under provisional liquidation after the High Court provisionally discontinued the company’s corporate rescue proceedings.
The order was granted by High Court judge Justice Musithu on Aug. 5 under case HCHC599/26.
The court appointed Rueben Mukavhi as provisional liquidator, with powers provided under Zimbabwe’s Insolvency Act.
Interested parties can appear before the High Court in Harare on Oct. 28 to show cause why the company’s corporate rescue proceedings should not be permanently discontinued and why Truworths should not be placed under final liquidation.
The notice says creditors must lodge proof of their claims with the provisional liquidator or Master of the High Court by Oct. 28. Creditors who fail to do so may be excluded from distributions made before their claims are proved.
Debtors have also been directed to settle amounts owed to the company or make payment arrangements acceptable to the provisional liquidator by the same date.
People holding Truworths books, records, property or other assets have been ordered to make them available to the provisional liquidator.
The company’s corporate rescue proceedings had been conducted under case CR23/24.
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