Ramatex legal wrangle drags on

18 May 2017 | Local News

The City of Windhoek will call for submissions of expressions of interest for the use of the Ramatex facilities once the legal dispute with the Ramatex liquidators has been resolved by the Supreme Court.

“The expression of interest will be for the economic utilisation of Ramatex facilities,” city's spokesperson Lydia Amutenya said in a recent interview with Nampa.

The matter is currently with the Supreme Court after a legal dispute erupted between the city and liquidators appointed to administer the affairs of Ramatex.

The bone of contention is the abandonment of the project agreement between the city and the former Malaysian-owned Ramatex company when they unceremoniously left the country in 2008.

The liquidators appointed to deal with the affairs are Ian Robert McLaren, David John Bruni, Simon Hercules Steyn and Ramatex Textiles Namibia (Proprietary) Limited, whilst the respondents are City of Windhoek and the ministers of trade and urban and rural development.

In 2008, Ramatex was declared bankrupt by the High Court with debt of more than N$500 million. It closed its doors the same year.

The factory, which was a subsidiary of a large Malaysian conglomerate, registered in Windhoek in 2001 and employed about 7 000 Namibian workers.

The multi-million dollar textile plant operated with an Export Processing Zone (EPZ) status and exported garments mainly to United States of America, but the company struggled to remain profitable, according to the court papers seen by Nampa.

Amutenya said since 2014, interests have been shown by various parties, and seven applications were submitted to lease Ramatex; nine on a long term-term while six were interested to lease the former Rhino Garments Dining Hall and Living Quarters.



NAMPA

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