Vedanta Resources Holdings Limited has obtained an ex parte order in the High Court of South Africa to institute an urgent interim interdict application out of the South African High Court in Johannesburg against ZCCM IH and KCM Provisional Liquidator Milingo Lungu.
According to a statement by Vedanta, if the Urgent Application, succeeds and an interim order is granted, the order will remain in place until the arbitration is resolved.
The Urgent Application be heard on 16 July 2019 out of the South African High Court in Johannesburg.
Vedanta says it approached the S.A High Court based both on the agreement to arbitrate contained in the KCM Shareholders’ Agreement, and the selection of Johannesburg as the seat of arbitration.
According to the statement, “the application is brought in terms of the South African International Arbitration Act, 2017, which facilitates the conduct of disputes of this nature in South Africa.”
“This Act gives effect to internationally recognised principles aimed at facilitating the resolution of commercial disputes where cross-border parties have agreed to do so by way of arbitration.” it adds.