Lancet Laboratory asks the High court to stay auction sale of its goods
By Staff Reporter
LANCET Laboratory Limited has sued the Zambia Radiography and Imaging Company Limited in the Lusaka High Court, seeking an order to stay the auction of its equipment until its application to pay the money it owes is heard and determined.
According to an affidavit in support of ex-parte summons to stay sale of goods seized under warrant of distress filed in court, Dr Isaiah Yikona who is one of the minority shareholders in Lancet Laboratory, asked the court to start stay of its goods until the case is determined.
He stated that the seized goods have been advertised for sale by auction to recover rental arrears.
Dr Yikona stated that the death of Prof Neil Nkanza who was
the majority shareholder and managing director of Lancet laboratory
Limited affected the operations of the company resulting in the
He stated that as a result, the company was undergoing restructuring
to resuscitate its operations.
Dr Yikona stated that some of the restructuring measures included the
renegotiation of the leasehold against which has already lapsed.
And Dr Yikona stated that some of the goods seized were highly sophisticated medical equipment which were acquired through hire purchase from General Electric Company (GEC) and still have property rights and the same would be adversely affected if the sale was to go ahead.
He stated that the company intended to apply to the court to
pay the outstanding rental arrears in instalments, adding that allowing
the sale of the goods would prejudice all the parties involved.
Dr Yikona stated that it was the prayer of his company that
the sale of goods be stayed as it seeks to settle the matter outside court.