The two Evraz-linked companies that recently instituted legal action to have the Evraz Highveld Steel & Vanadium (Highveld) business rescue plan declared invalid and the October 13 creditors vote set aside, are now also seeking an urgent interdict to prevent Highveld and the business rescue practitioners (BRPs) from implementing the rescue plan.
The companies are East Metals, a large Highveld creditor, and Mastercroft, an 85% shareholder in Highveld, which entered voluntary business rescue in April this year.
They have approached the court in a bid to halt implementation of the business rescue plan, pending a final determination of the main application.
The BRPs indicated in a statement that they intend opposing both the urgent application and the main application.