Gupta-owned Tegeta Exploration is calling on Barloworld to withdraw its court application for the liquidation of Optimum Coal.
According to eNCA, Barloworld Equipment made the application after having not received payment for 13 months from Optimum Coal, which it supplies with goods and services.
It is understood Optimum Coal was leasing equipment from Barloworld Equipment during that period. The company, which is part of the listed Barloworld group, said it did not make the decision to go to court lightly.
In a statement on Thursday, Tegeta said: "Following its purchase of Optimum in April this year, and whilst Optimum was still in business rescue, Tegeta inherited a disputed balance with Barloworld.
"Optimum has instructed its bankers to settle the balance (under protest) and insisted on delivery of all supporting documents and invoices to substantiate Barloworld’s claim."
Tegeta said the payment was made on October 26 2016, and in view of this, the company and Optimum expected Barloworld’s application to be withdrawn.
In August 2015 Optimum Coal was placed in business rescue by its previous owner, Glencore, following a protracted disagreement with Eskom relating to a coal-supply contract.
At the time Glencore said it had advanced R900m to enable Optimum to continue operating.
In March 2016 Tegeta paid R2bn for the shares in Optimum Mine in a transaction that has been mired in controversy.
With Ann Crotty
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