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Bluerock Diamonds insists former CEO claims lack merit

29 october 2018
BlueRock Diamonds, which owns and operates the Kareevlei diamond mine in the Kimberley region of South Africa, said it is confident of winning a court case against its former chief executive Riaan Visser.
Visser agreed to remove his liquidation application from the court roll last August and initiate ordinary course recovery proceedings within an agreed timetable.
He had since initiated proceedings against the company in the High Court and was demanding R3.5 million (£187,000) reduced from his initial claim of R4.8 million.
"Based on our legal advice we remain confident in defeating this unfounded claim from a former director," said BlueRock chief executive Adam Waugh.
BlueRock said Visser’s claims were, however, fully provided for in the balance sheet of the company and security had been provided to the South African Courts for the full amount of the initial claim.

Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished