The corporate rescue practitioner for troubled Westwood Industrial Limited has been suspended due to his past involvement with the company.
The process sees a corporate rescue practitioner appointed to superintend the rescue process of the sinking company. He is required to develop a corporate rescue plan and ensure its successful implementation to rehabilitate the company. Pending the final determination of an application to have Mr Mashingaidze permanently removed as the corporate rescue manager, he was ordered in this interim judgment to stop exercising his duties as corporate rescue manager for Westwood and not to interfere with the business operations of the company in any way.There was a problem processing your submission. Please try again later.
He further submitted that his business partner, Mr Dereck Chikura, who was involved in the financial affairs of Westwood, is in the mining business."His mere association with the company and or a person who is involved with the company disqualifies him," said Justice Zhou.