MASERU – Frazer Solar is expected to make another application in Johannesburg today, to freeze water royalties due to Lesotho from South Africa.
“They (Frazer) say all monies due to the Kingdom should be frozen pending the hearing of the main application in May next year.” a source told Lesotho Express News.
The company that claims that it is German, won a default award of €50million from arbitration in South Africa.
Frazer claims that it had signed an agreement valued at €100million to supply Lesotho with solar products, but the kingdom did not meet its contractual obligations.
Lesotho is challenging a court order that confirmed the arbitration, and the high court suspended the holding of any assets until the application to set it aside is heard.
Meanwhile the government of South Africa and that country’s minister of water, Senzo Mchunu. have also filed an intervention application.
Mchunu’s court papers say paying Lesotho royalties to Frazer will jeopardise relations between the two countries and threaten regional stability.
It appears that Frazer is not giving up the fight, but it is unclear whether its reasons are
The new Frazer application will be made virtually.
