Namco Holdings In Provisional Liquidation

Namco Holdings, a subsidiary of Lev Leviev’s Namco, has entered into provisional liquidation. The action comes only a year and a half after similar proceedings against the company were halted. The final decision will be made by the Cape Town High Court in February.

The ailing company is facing additional liquidation applications. The court is considering applications for Namco (Pty) Ltd, Namco Southern Africa (Pty) Ltd and Ocean Diamond Mining Southern Africa Ltd. Namco Maritime in Namibia has been liquidated already.

On December 5 Namco announced it is suspending all diamond operations in South Africa and Namibia.