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Canaf Investments Inc V.CAF

Alternate Symbol(s):  CAFZF

Canaf Investments Inc. is a Canada-based company, which owns and operates a coal processing business in South Africa, which processes coal and coal products into calcine, a coke substitute with a carbon content. The Company operates through two segments: the head office operations in Canada and the coal processing business in South Africa. The Company, through its subsidiary, Southern Coal (Pty) Ltd. (Southern Coal), processes anthracite coal into de-volatized anthracite (calcined anthracite) for sale mostly to steel and ferromanganese manufacturers as a substitute product for coke. The Company, through its subsidiary, Canaf Investments (Pty) Ltd, which is a South African holding company that owns Canaf Estate Holdings (Pty) Ltd, which is a property investment company focused on acquiring, redeveloping and renting properties primarily within the suburbs of the old Johannesburg. It is also exploring new sectors to invest in within South Africa.


TSXV:CAF - Post by User

Post by Angleson Jun 30, 2023 11:38am
190 Views
Post# 35522346

No Award

No AwardThe Arbitral Tribunal delivered its Award on the 26th April 2023 disallowing both Canaf’s claim and KML’s counterclaim. In disallowing the claims, the Tribunal based on an issue outside the scope of the reference, raised by itself after the conclusion of the arbitration proceedings, with the parties being denied an opportunity to call further evidence to clarify on that issue. It is on this basis that an Application has been filed to the Uganda High Court on behalf of Canaf to set aside this Award and refer the dispute back for determination before another arbitrator. The dispute is pending hearing before the Uganda High Court.
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