After stormy debates and heated exchanges, the general assembly of the Egyptian Iron and Steel Company (EISC) convened on September 22 to approve yet another extension to the company’s liquidation timeline, adding a fifth year starting in January. The hall erupted with chants from individual shareholders: “Void, void, void. Five years of liquidation is void.”
When the extraordinary general assembly decided to liquidate the company on January 11, 2021, it set a two-year deadline. But when that period elapsed, the liquidation had barely begun, prompting one extension after another.
Throughout the past four years, minority shareholders have repeatedly demanded that the…