More Post Newspapers Assets Seized…Liquidators Land 11 More Trucks
Liquidators of The Post Newspapers and police have continued at the carcass of the publication by hunting for whatever assets it can find.
On Monday a combined team of police and members from the provisional liquidators impounded 11 trucks from a parking yard in Shimabala area in Chilanga District.
Provisional liquidator Lewis Mosho received zero cooperation from Post Newspapers Managing Director Fred M’membe in cataloguing the publication’s assets so that they are disposed of to pay off whoever The Post owes money.
Former employees of The Post have filed a legal suit in the Lusaka High Court to wind down the paper on account of being bankrupt and the Judge Sunday Nkonde appointed provisional liquidators.
The paper is facing closure following a disputed K53 million tax burden with extra penalties that takes the claim by the Zambia Revenue Authority to K89 million.
With the legal suit for winding down, various creditors have come on board pushing the claims further upwards on the newspaper that has re-incarnated itself as The Mast.
The paper has remained in June by Zambia Revenue Authority over tax arrears.