Guptas still in the BATTLE FOR OPTIMUM
Optimum Coal Mine’s business rescue practitioners are running against time to finalise a solid plan to save the company, but critics are wary that the new plan still bears the Guptas’ fingerprints. Tomorrow, the practitioners will present to the Optimum creditors the fourth business plan since the rescue process started in February 2018, in which a proposal to convert into equity the debt Optimum owed to Centaur Ventures – another Gupta-linked company – will be tabled for a vote.
The proposed debt-to-equity conversion includes the creation of a new company, New Optimum, with share classes. All creditors and workers would have to agree to the plan and
