New twist to MKM saga

Lesotho Times
3 Min Read

Prominent Maseru Businessman – Simon Thebe-ea-khale  (6)

Lekhetho Ntsukunyane

THE High Court of South Africa, through its Free State Division in Bloemfontein, has issued an interim order authorising MKM provisional liquidators to repossess “all funds and assets” belonging to the company in that country.

The order, issued by Acting Judge AS Boonzaaier on 30 April 2015, empowers MKM’s liquidators, Webber Newdigate’s Attorneys, to: “Recover and take possession of any and all funds and assets in South Africa that the company (MKM) and insolvency laws of South Africa ought to be recovered for the benefit of the creditors of the MKM Star Lion Group Estate, and enable the applicants to realise such assets and repatriate such funds and assets in the Kingdom of Lesotho.”

The same order, however, calls on “any creditors of the consolidated Lesotho estate of MKM Star Lion Group Estate, to show cause, if any, on Thursday, 11 June 2015, at 9:30am,” why the document should not be granted as a final court order.

Webber Newdigate’s Attorneys are the provisional liquidators of the Simon Thebe-ea-Khale-owned MKM Star Lion Group Estate, MKM Marketing Limited, Star Lion Gold Coin Investment, Star Lion Group Limited and Star Lion Insurance Limited.

Justice Boonzaaier noted in the interim order that the Lesotho proceedings for the winding up of MKM, and the appointment of said provisional liquidators of the company, “are recognised in South Africa.”

Contacted for a comment yesterday, Attorney Letsika, confirmed the order saying it was sought in the High Court of South Africa “because there seems to be other properties belonging to the MKM in that country, so we need to trace them so that they could also be sold so that the money recovered is enough to give it back to creditors here in Lesotho.”

Asked about the pending liquidation of MKM properties in Maseru, Attorney Letsika said: “We are still working on that one to see how best it can be handled because you will recall acts of violence that disrupted the final liquidation processes last year. We are trying to also find an alternative, other than to liquidate the companies and have not reached anything as yet.”

On his part, Mr Thebe-ea-Khale yesterday expressed surprise over the document, which he said he knew nothing about.

“This is new to me. I do not understand how these people are dealing with us. One minute we think we are doing things together, but in the next they go behind our back and come up with this,” he said.

The embattled businessman also indicated that there were no “funds or assets” in connection with MKM in South Africa.

“The only assets available in that country are those belonging to me personally – not either of these companies they mentioned in this document,” he charged.

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