Wed, 06 Sep 2017 12:32:34 +0000
By Chikumbi Katebe
THE Post in Liquidation has announced that all creditors including the University Teaching Hospital (UTH), ZAMTEL and NAPSA among others will only be cleared on priority of ranking following the release of all assets in accordance with legal provisions.
Provisional Liquidator for the publication, Lewis Mosho in a statement yesterday said the priority for secured creditors shall be given to former employees and then Zambia Revenue Authority (ZRA).
He said the payments shall be ranked in accordance with legal provisions under the laws of Zambia.
“Priority after secured creditors shall be given to all former employees of the company as preferential creditors who are ranked together with statutory obligations payable to the Zambia Revenue Authority (ZRA).
“Former employees of the company who have not yet submitted their credentials are encouraged to do so to enable the company update the list of payments to employees,” he said.
The Provisional Liquidator has named some of the creditors that have made their submission to his office as the UTH, ZAMTEL, Workers Compensation Fund Board, National Assembly, NAPSA, ZAMPOST, Zambia State Insurance Corporation (ZSIC), Zambia National Broadcasting Corporation (ZNBC), Hazida Motors, Yeti Motors, Gilat Satcom, Xinhua News Agency of China, Development Bank of Zambia (DBZ) among others.
And he has warned former directors and shareholders of the Post in Liquidation to desist from interfering in the winding up process of the company by misleading some former employees against claiming their dues.
“We take this opportunity to warn the former directors and shareholders of the company that they should desist from interfering in the winding up by misleading some former employees of the company,” he said.
The Lusaka High Court granted an order of liquidation against the Post Newspaper after five employees sued over their non-payment of emoluments including redundant packages owing to huge debt owed to several entities including unpaid taxes by the company.
