Judge Nkonde, Mosho finally annihilate The Post
By Staff Reporter
LUSAKA High Court judge Sunday Nkonde has authorised Post Newspapers Limited provisional liquidator Lewis Mosho to finally wind up liquidation of the company and sell all its assets.
According to consent judgment that judge Nkonde signed this week, the liquidation would be concluded and all the remaining company’s assets be sold.
On Friday last week, Mosho filed a consent judgment before Nkonde, seeking a declaration that the closed newspaper was insolvent and unable to pay inflated taxes it owed the Zambia Revenue Authority (ZRA),
Government used ZRA to close the country’s only independent newspaper on June 21, 2016 over a disputed tax bill and appointed their supporter, Mosho as provisional liquidator.
Judge Nkonde, who also had personal issues with the newspaper, put himself forward to preside over the matter.
In April last year, Mosho carried out an auction sale of all the over 50 company’s courier trucks, including those that were packed in South Africa, even though the matter was still in court.
The consenting parties that all claim to be representing Post Newspapers Limited were Mosho’s law firm, Lewis and Nathan Advocates, Mosha & Company, Rabson Malipenga & Company, Palan & George Advocates, and the ZRA legal counsel.
“BY CONSENT of the parties hereto it is hereby agreed and ADJUDGED as follows:
1.That the respondent having its liabilities far much exceeding the value of its assets and having been unable to pay its debts as they fall due with no reasonable prospects of being rescued or rehabilitated whatsoever and however BE and is HEREBY declared insolvent and wound up,” stated the judgment.
“2. That the Provisional liquidator Lewis Chisanga Mosho of Lusaka BE and is HEREBY confirmed as the Liquidator of the Respondent and shall exercise all the functions and powers of the liquidator including dissolution of the Respondent pursuant to the Companies Act chapter 388 of the Laws of Zambia.”