Lusaka ~ Mon, Nov 8, 2021
By Mwaka Ndawa
FINANCE Bank Zambia Limited has filed for bankruptcy against former First Lady Maureen Mwanawasa.
This is a case in which the bank wants the High Court to declare Maureen bankrupt for non-payment of a loan facility amounting to over K 6.8 million.
According to the creditor’s bankruptcy petition, Maureen owes him unjustly amounts of K 6,753,546.76 and K 892,831 as well as costs in the amount of US $ 25,000.
He said the debt is a liquidated sum payable immediately and Maureen is unable to pay it.
Finance Bank said on June 11, 2019, a consent judgment was issued in the High Court under case number 2018 / HP / 1790, where Maureen was ordered to pay him the balance along with costs.
He stated that said money remains unpaid and unsatisfied to this day.
“On September 3, 2021, a notice of bankruptcy was served on the debtor. The request was neither fulfilled nor set aside in accordance with the rules and no layaway requests are pending, ”the Bank said. “Debt is due and the debtor has no reasonable chance of being able to pay it. We do not hold any guarantee for the payment of part of the aforementioned sum.
The petition is awaiting court approval.
Credit: Le Mât