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BRIEF-Rockwell Diamonds provides fourth update regarding three subsidiaries in Kimberley, South Africa
May 19, 2017 / 6:44 PM / 2 months ago

BRIEF-Rockwell Diamonds provides fourth update regarding three subsidiaries in Kimberley, South Africa

2 Min Read

May 19 (Reuters) - Rockwell Diamonds Inc :

* Rockwell provides fourth update regarding three subsidiaries in Kimberley, South Africa

* Says subsidiaries again attended in court in Kimberley, South Africa on May 18, 2017

* Effect of order is that joint business rescue practitioners will oversee affairs of subsidiaries and prepare business rescue plan

* Immediate effect of order is that all legal proceedings against subsidiaries are stayed, and liquidation process is suspended

* "A strategic review of all assets and opportunities will be conducted to assess possibilities of realizing short term value"

* Says will also pursue its criminal and civil claims against CML and certain individuals involved in business of CML

* Business practitioners Peter Van Den Steen and Trevor Murgatroyd of Metis Strategic Advisors appointed by court on interim basis

* Peter van den steen, Trevor Murgatroyd will be in contact with creditors of subsidiaries in next week to make necessary arrangements Source text for Eikon: Further company coverage:

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