Scheme Glossary
Key terms used throughout the Scheme of Arrangement, as defined in the Explanatory Statement and Scheme notices.
Scheme of Arrangement
A statutory procedure allowing a company to enter a compromise or arrangement with its creditors (or any class of them), provided for under section 46 of the Zambian Corporate Insolvency Act, No. 9 of 2017.
Scheme Administrator
The agent of the Company (acting through its Provisional Liquidator), responsible for overseeing and implementing the Scheme, managing communication with Scheme Creditors, and determining Scheme Entitlements. Shuko Ndhlovu of HLB Zambia has been appointed to this role. See HLB Zambia — Scheme Administrator.
Independent Claims Adjudicator
An individual appointed by the Scheme Administrator, where necessary, to conclusively determine the amount of an Admitted Claim following a Dispute Notice from a Scheme Creditor whose claim was rejected.
Class 1 Scheme Creditors
Scheme Creditors which, in aggregate with their affiliates, hold Admitted Claims with a value less than USD 1,000,000.00.
Class 2 Scheme Creditors
Scheme Creditors which, in aggregate with their affiliates, hold Admitted Claims with a value equal to or greater than USD 1,000,000.00.
Explanatory Statement
The document setting out the full terms of the Scheme Proposal, referred to throughout the Scheme notices. All Scheme Creditors are recommended to review it in full; it is available via the documentation link on the About the Scheme page.
Restructuring Effective Date
The date, determined in line with the Explanatory Statement, from which key Scheme obligations and distribution timelines run.
Bar Date
The deadline (17:00 Lusaka time) by which Claims must be submitted; Claims not submitted by this date are forfeited.
PACRA
The Patents and Companies Registration Agency of Zambia, with which the Provisional Liquidator was required to lodge a copy of the Court’s sanctioning Order.
These are summary definitions for quick reference. The Explanatory Statement and Court Ruling remain the authoritative source — see About the Scheme and Scheme Documents.