By Mwaka Ndawa
FINANCE Bank Zambia Limited has now lodged a petition for bankruptcy against former first lady Maureen Mwanawasa.
This is in a matter where the the bank wants the High Court to declare the Maureen bankrupt for non-payment of a loan facility amounting to over K6.8 million.
According to the creditor’s bankruptcy petition, Maureen is unjustly indebted to it in the sums of K6,753,546.76 and K892,831 together with costs in the sum of US $25,000.
It said the debt is for a liquidated sum payable immediately and Maureen is unable to pay it.
Finance Bank stated that on June 11, 2019 a consent judgement was entered in the High Court under cause number 2018/HP/1790 where it was ordered that Maureen pays it the balance together with costs.
It stated that the said money remains outstanding and unsatisfied to date.
“On September 3, 2021 a notice of bankruptcy was served upon the debtor. The demand has neither been complied with nor set aside in accordance with the rules and no application to set aside is outstanding,” said the Bank. “The debt is a liquidated sum payable and the debtor has no reasonable prospects of being able to pay it. We hold no security for payment of part of the above -mentioned sum.”
The petition is pending an endorsement by the court.
The Mast
