Liquidator grabs Fred Mmembe’s house, issues arrest warrant

Filed under: Breaking News,Politics |

File: Mmembe leaving the Police

Post Newspapers Provisional Liquidator, Lewis Mosho, accompanied by State Police have stormed the House of the former proprietor of the Newspaper, Fred Mmembe.

 

The Action is intended to recover millions of US $s owed and the Property on Nangwenya Road was pledged as Collateral/Security.

 

The Post Newspapers, in Liquidation owes over US$21million to various Creditors that include Workers, Banks and long outstanding and unpaid Taxes to the Zambian Revenue Authority (ZRA).

 

The Group raided Fred Mmembe’s House on Nangwenya Road in Rhodespark after 16hrs.

 

It is understood that a Court Order has been obtained to seize the House on behalf of Investrust Bank who The Post owed over US$8million and Mmembe pledged his House as Collateral/Security.

 

Earlier, Mmembe’s spouse Mutinta was seen shouting unprintables at the raiding Group.

And the court has issued a warrant of arrest against M’membe.

 

 

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8 Responses to Liquidator grabs Fred Mmembe’s house, issues arrest warrant

  1. Bola Naikosa,Mmembe in Hot soup what is happening?He behaved like an ostrich burying you head in sand!!!!!!!!!!!!!!!!!!!!

    GBM
    February 16, 2017 at 5:16 am
    Reply

  2. Today is mmembe tomorrow it will be Lungu.

    Is Kambwili clean ?

    joseph Mwape
    February 16, 2017 at 6:58 am
    Reply

  3. Let him pay

    benjamin maunda
    February 16, 2017 at 9:23 am
    Reply

  4. It will be worse with Lungu

    Keki
    February 16, 2017 at 9:43 am
    Reply

  5. TO BE FRANK I DONT SEE LOGIC HERE.IF INVESTTRUST ARE THE ONES WHERE MR MMEMBE GOT THE LOAN WHAY ARE THEY NOT THE ONES PURSUING THE MATTER WHY IS MR MOSHO COMING IN FOR WHAT/stop victimizing mr mmembe .Mosho please sir be professional

    ABAMANO
    February 16, 2017 at 10:09 am
    Reply

    • ABAMANO, Inestrust can nnot push M;membeat this stage, It is only the liquidator who has authority to do so. Ask HH, he will tell you what liquidation is

      jason Nyirenda
      February 16, 2017 at 7:41 pm
      Reply

  6. Mr. Mmembe is reaping what he sowed. If he was not paying tax then he is receiving the rewards for that. However the law should be applied evenly because there are some companies that have lacked behind in terms of paying tax but they are operating normally. In bemba we say Canga baseka uwacelwa…eficitike kuli ba Mmembe. Nomba nabambi bakekatwa abo balepekanya ukuya mukumonana Al bashir….awe mayo.

    Ndimubemba Inkonko
    February 16, 2017 at 3:09 pm
    Reply

  7. When a company goes into liquidation, an insolvency practitioner will be appointed to gather in all the assets of the company and try to distribute them to pay off the debts of the company. Secured creditors such as banks will seize the assets they have a charge over such as any business premises, etc. and try to recover their money from those. Anything left over will go back to the insolvency practitioner (but there is often not enough for this).

    ABAMANO TRY TO READ THIS BIT.

    JUSTIN NJOBVU
    February 17, 2017 at 10:10 am
    Reply

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