Following on the news of Alliance Mining's liquidation, Queensgate Hotel & Leisure ("the Group") has just announced that an order provisionally winding-up the Group's subsidiary, Queensgate Leisure ("the subsidiary") was handed to it today.

The directors explain that the claim was granted at the instance of Mvelaphanda and Investec as the subsidiary owed each of them R68 million and R30 million respectively.

Queensgate Leisure did not oppose the application.

Directors go on to point out that the other subsidiary in the Group, Queensgate Business Development (Pty) Ltd, "...continued to flourish in this period and contributed a profit attributable to shareholders of R26,6 million for the year ended 31 August 2010."

The previous application for the provisional winding-up order of Queensgate brought by Salvobyte (Pty) Ltd, which contends for a claim of an amount of R210 081 has been postponed until Monday, 14 June 2010.   The Group continues to oppose this claim.

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