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Pula’s $195m Motsepe claim thrown out of Tanzanian court on a technicality – for now
['Ciaran Ryan', 'Aug', 'Nduka Orjinmo', 'Godfrey Marawanyika', 'Antony Sguazzin', 'Antoinette Slabbert']
Moneyweb
A Tanzanian court has struck Pula Group’s $195 million damages claim against companies associated with Patrice Motsepe from the court roll – but stopped short of deciding whether confidential information was misused to support a competing graphite project, as Pula alleges.
Pula cited Patrice Motsepe and three of his companies as respondents: African Rainbow Minerals (ARM), African Rainbow Capital (ARC), and ARCH Sustainable Resource.
ADVERTISEMENT CONTINUE READING BELOWPula later discovered that an associated company, ARCH Sustainable Resources Fund, had invested in Evolution Energy Minerals, the Australian company developing the nearby Chilalo graphite project through Ngwena Tanzania.
ARCH was sufficiently close to Motsepe and ARM to have received confidential information in breach of the agreement and then act on it, according to Pula’s court filings.
The two companies not present in the court – Evolution and Ngwena – will have to be joined to the proceedings for the case to continue.