🇧🇼BotswanaSouthern Africa
Botswana Court of Appeal rules in favor of Nova Africa in Mupane Gold Mine sale
via Mmegi1 min read
The Court of Appeal CoA in Botswana has ruled in favor of Nova Africa in the legal dispute over the sale of Mupane Gold Mine, setting aside a High Court interdict previously secured by Ulsan Botswana. The CoA judges criticized Ulsan Botswana, referring to them as a "grumpy loser intent on frustrating the liquidation process." The legal battle began last year after creditors approved the sale of the mine to Nova Africa for $21 million. Ulsan Botswana, a rival bidder, had offered an upfront $500,000 and up to P10 million pending further assessment. Ulsan had secured an interdict in October, citing technical irregularities in the award to Nova. The CoA bench upheld the appeal filed by the liquidator, Kopanang Thekiso, and Nova Africa, and set aside the interim interdict with costs.
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This summary was AI-generated from a story originally published by Mmegi.
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