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Zambia Court Blocks Vedanta Bid to Stop Liquidation

  • Judge sets hearing for winding-up petition on Aug. 27
  • Company owned by billionaire Anil Agarwal considers options
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Photographer: Waldo Swiegers/Bloomberg

Corrected

A Zambian court Wednesday dismissed an application by Vedanta Ltd. to stay the liquidation of its Konkola Copper Mines unit and set the hearing for a winding up petition on Aug. 27.

“Vedanta is reviewing the ruling and will then make a decision on its next steps,” the company said in an emailed statement in response to the ruling by Justice Annesi Banda-Bobo of the Lusaka High Court. Preliminary arguments will be heard on Aug. 13.