ZCCM Investments Holdings Plc To Appeal Against the Ruling of the High Court in the matter of ZCCM Investments Holdings Plc v First Quantum Minerals, FQM Finance Limited, Philip Pascall, Arthur Mathias Pascall, Clive Newall, Martin Rowley and Kansanshi Mining Plc
30th March 2020, Lusaka – ZCCM Investments Holdings Plc (ZCCM-IH) intends to appeal against the Ruling of the Lusaka High Court delivered on 23 March 2020 regarding a matter commenced by ZCCM-IH in 2016, against First Quantum Minerals Limited (FQM Ltd), FQM Finance Limited, Philip Pascall, Arthur Mathias Pascall, Clive Newall, Martin Rowley and Kansanshi Mining Plc.
In the said matter ZCCM-IH alleges, among others, that the defendants on several occasions fraudulently engaged in transactions totalling in excess of $2 billion for the benefit of the FQM Group.
ZCCM-IH holds the view that the defendants’ conduct is detrimental to ZCCM-IH’s interests and those of the nation, and remains committed to protecting the said interests.
Therefore, ZCCM-IH will be appealing against the Ruling.
Public Relations Manager
ZCCM Investments Holdings Plc
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