News / National
Master of High Court speaks on national airline, AirZim
29 Jan 2012 at 07:55hrs | Views
The High Court has said it is still premature to conclude whether national airline Air Zimbabwe will be liquidated or not.
In an interview with The Sunday Mail last week, Master of the High Court Mr Charles Nyatanga said while some AirZim employees had lodged an application to place the company under judicial management, the issue was still in its initial stages.
"The court application simply initiates court proceedings in matters of this nature," said Mr Nyatanga.
"It is not in itself a court order nor a ruling of the court.
"It consists of various documents which include, amongst others, founding and supporting affidavits as well as bond of security and Master's Certificate."
Mr Nyatanga said he had issued a certificate on Mr Shepherd Chemutanda as possible judicial manager of AirZim based on the advice by the applicants. He, however, said Mr Chemutanda was still subject to approval by parties involved in the matter.
"The master's certificate on the other hand merely confirms that due security for payment of all fees and charges has been filed.
"Furthermore, the Master's Certificate indicates whether or not our office recommends the person suggested or nominated in the court application as the proposed judicial manager," said Mr Nyatanga.
"The national carrier has been given 10 days to respond to the application."
Air Zimbabwe is currently reeling under a US$140 million debt and faces possible liquidation in the event that the workers' application succeeds.
The application was made in terms of Section 299(1) as read with Section 207(1) of the Companies Act (Chapter 24:03) which provides for creditors to make an application for a struggling company to be placed under judicial management.
The application by the National Airways Workers' Union and Air Transport Union cites Air Zimbabwe Holdings, Air Zimbabwe (Pvt) Ltd and the Master of High Court as the respondents.
The parastatal has failed to pay workers salaries since January 2009 and owes its employees about US$35 415 000 as of December 2011.
The airline is in the middle of a crippling liquidity crisis, which culminated in one of its Boeing 767s being impounded at Gatwick Airport in London by American General Supplies over a US$1,2 million debt for services rendered.
In an interview with The Sunday Mail last week, Master of the High Court Mr Charles Nyatanga said while some AirZim employees had lodged an application to place the company under judicial management, the issue was still in its initial stages.
"The court application simply initiates court proceedings in matters of this nature," said Mr Nyatanga.
"It is not in itself a court order nor a ruling of the court.
"It consists of various documents which include, amongst others, founding and supporting affidavits as well as bond of security and Master's Certificate."
Mr Nyatanga said he had issued a certificate on Mr Shepherd Chemutanda as possible judicial manager of AirZim based on the advice by the applicants. He, however, said Mr Chemutanda was still subject to approval by parties involved in the matter.
"The master's certificate on the other hand merely confirms that due security for payment of all fees and charges has been filed.
"Furthermore, the Master's Certificate indicates whether or not our office recommends the person suggested or nominated in the court application as the proposed judicial manager," said Mr Nyatanga.
"The national carrier has been given 10 days to respond to the application."
Air Zimbabwe is currently reeling under a US$140 million debt and faces possible liquidation in the event that the workers' application succeeds.
The application was made in terms of Section 299(1) as read with Section 207(1) of the Companies Act (Chapter 24:03) which provides for creditors to make an application for a struggling company to be placed under judicial management.
The application by the National Airways Workers' Union and Air Transport Union cites Air Zimbabwe Holdings, Air Zimbabwe (Pvt) Ltd and the Master of High Court as the respondents.
The parastatal has failed to pay workers salaries since January 2009 and owes its employees about US$35 415 000 as of December 2011.
The airline is in the middle of a crippling liquidity crisis, which culminated in one of its Boeing 767s being impounded at Gatwick Airport in London by American General Supplies over a US$1,2 million debt for services rendered.
Source - Sunday Mail
