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.