High Court orders final liquidation of Erongo Petroleum
High Court Judge Shafimana Ueitele last week issued a final liquidation order against Erongo Petroleum CC, owned by incarcerated businessman Austin Elindi, in a case brought by Namcor over unpaid fuel debts exceeding N$380 million.
The ruling paves the way for Erongo Petroleum’s assets to be sold off to settle its debts, effectively ending the company’s operations. The Master of the High Court will oversee the process.
Before the order, Elindi filed an affidavit seeking to halt the liquidation, citing a pending N$774 million foreign investment deal with Hong Kong-based Pacific Creation Limited, which he claimed could rescue the companies from collapse.
In June, both Erongo Petroleum and Enercon Namibia, founded by brothers Peter and Malakia Elindi, were placed under provisional liquidation.
In the final order, Raymond Heathcote, assisted by Jesse Schickerling, represented Namcor, while Raywood Rukoro appeared for Elindi.
The matter has now been finalised and struck from the court roll.
The ruling paves the way for Erongo Petroleum’s assets to be sold off to settle its debts, effectively ending the company’s operations. The Master of the High Court will oversee the process.
Before the order, Elindi filed an affidavit seeking to halt the liquidation, citing a pending N$774 million foreign investment deal with Hong Kong-based Pacific Creation Limited, which he claimed could rescue the companies from collapse.
In June, both Erongo Petroleum and Enercon Namibia, founded by brothers Peter and Malakia Elindi, were placed under provisional liquidation.
In the final order, Raymond Heathcote, assisted by Jesse Schickerling, represented Namcor, while Raywood Rukoro appeared for Elindi.
The matter has now been finalised and struck from the court roll.
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