ZRA demands K80m from Post

 

ZAMBIA Revenue Authority (ZRA) has formally joined the petition in support of the winding up proceedings against the Post Newspaper which has been placed under compulsory liquidation by the High Court in a bid to recover K79, 569 974.21 the newspaper owes the tax man. And Investrust Bank has also submitted a claim against the Post Newspaper, demanding about K7 million it is owed by the newspaper. Meanwhile, Palan and George Advocates, the new lawyers for the provisional liquidator of the Post Newspaper (in liquidation), have withdrawn an application by Messrs Nchito and Nchito to stay the execution of an ex-parte order appointing Lewis Mosho as the provisional liquidator after the law firm was fired on Wednesday. “Take note that the respondent herein wholly discontinues its applications to stay execution of ex-parte order appointing provisional liquidator and to set aside ex-parte order appointing provisional liquidator,” read the notice to the High Court.   ZRA has joined the petition in support of the liquidation of the Post Newspaper in a notice filed in the High Court which has since been served on the liquidator and the five former employees of the Post Newspaper who are the petitioners. This is contained in a notice of intention to appear at petition pursuant to Rule 10 of the winding up rules, filed in the commercial registry of the Lusaka High Court. “Take notice that Zambia Revenue Authority, Kalembo Road, Kabwe Road Roundabout, a creditor for K79 569 974.21 intends to appear on the hearing of the above mentioned petition to support it,” the notice read. This followed the High Court Justice Sunday Nkonde’s ruling to place the newspaper under provisional liquidation after five former employees petitioned over the company’s failure to pay them their dues. Those who have petitioned the High Court included Andrew Hebert Chiwenda, Roy Habaalu, Bonaventure Bwalya, Mwendalubi Mweene and Abel Mbozi all of whom are former employees of the newspaper. Mr Justice Nkonde has since appointed Lewis Nathan Advocates to be Provisional Liquidator for the winding up of the publication in respect of all its assets. However, the newspaper filed an application ex parte to stay the High Court ruling pending the determination of the petition before court, but Mr Justice Nkonde set yesterday as date for inter parte hearing on the matter. On the other hand, the liquidator has already replaced legal representation for the Post after he relieved Nchito and Nchito Advocates and replaced them with Palan and George Advocates with immediate effect. ZRA claims up to K79, 569,974.21 from the Post Newspaper over their failure to honour tax obligations including accumulated VAT. The High Court has notified all creditors and other interested parties for purposes, inter alia, of submitting claims with the provisional liquidator. The newspaper owed its former employees K785,000 in salary arrears and benefits apart from the K79 million owed to ZRA and the US $3 million owed to Investrust Bank, among others.

 

Categorized | Home News

Comments are closed.

Our Sponsor

Jevic Japanese Auto Inspections

Social Widgets powered by AB-WebLog.com.