Newsletter| A Gupta family company has launched an urgent court bid which, if successful, would enable it to take more than R1 billion out of the country
The Gupta family allegedly sucked the life out of Optimum mine and now their proxy is fighting for what is left over
Centaur told City Press that this is not the point, adding that it merely wanted a chance to objectively assess the proposed investment and its effect on the company’s claim. However, the BRPs claim that Centaur paid Optimum R2 billion for coal, knowing the latter would not receive most of it. Instead of benefiting Optimum, most of the payment, R1.2 billion, was transferred the very next day to Tegeta and Oakbay.
The BRPs, however, agree with Centaur that Eskom’s claim, which consists mainly of penalties for bad-quality and insufficient coal, is inflated. In its court papers, the company complains that it was not a Gupta conspiracy, but rather, the BRPs who have “run Optimum into the ground” and treated a legitimate creditor, Centaur, with “dismissive contempt”.
Centaur’s two court bids follow a slew of Gupta attempts to apparently gain control over Optimum’s business rescue, or to claim the biggest slice of the R2.5 billion dividend that could flow from a sale of the mine and its valuable export allocation at the Richards Bay Coal Terminal in KwaZulu-Natal.A failed buyout by a disguised Gupta company operating out of Switzerland, called Charles King, last year, andA disputed claim for a R2.
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