Mary Oppenheimer Daughters (Pty) Ltd signed an agreement to acquire racetrack business and its assets of Phumelela Gaming and Leisure Limited and unknown stake in Phumelela Gold International Limited from Phumelela Gaming and Leisure Limited (JSE:PHM) on September 3, 2020. Under the deal, creditors Rand Merchant Bank and Investec who are the creditors would receive 100% of debts owed, while other creditors would receive ZAR 242 million, or 72.2%, of the ZAR 335.0 million owed. An additional ZAR 100 million would be available for shareholders. The creditors voted overwhelmingly in favour of the deal. However, Gold Circle, the joint venture partner of Phumelela Gaming and Leisure Limited has issued a legal challenge against the deal that could halt the process. This challenge alleges the business rescue practioner may not agree to sell more than 61% of Phumelela Gold International as it claims ownership of 39% of shares of the business. Gold CIrcle argues the business rescue practioner "refuses to recognise" its ownership of this stake. The business rescue practioner, John Evans, meanwhile, argues that this agreement came to an end and a new agreement was reached and points to the fact that Gold Circle's financial statements do not refer to this ownership stake. Gold Circle claims Evans "provides no details" of this new agreement. This claim will be considered by the Guateng Local Division of the South African High Court.