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Steelnet creditors meet

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Steelnet Zimbabwe creditors will hold their first meeting next month at the High Court. The company, which manufactures steel pipes, fasteners and agricultural implements, was placed under provisional judicial management last year.

In a notice to creditors yesterday, provisional judicial manager Christopher Maswi said: “The first meeting of creditors will be held at the High Court of Zimbabwe.”

The meeting will consider receipt of proof creditors’ claims, provisional judicial manager’s report and nomination of final judicial manager.

Steelnet’s total liabilities stood at $4,6 million at the end of May in 2011.

In 2010, the company injected only $270 000 to capitalise the group.

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