THE Lusaka High Court has ordered that former First Lady, Thandiwe Banda be allowed to lease out the apartments whose rental proceeds would exclusively be for servicing of a bank loan.
This is in a matter in which Ms Banda and Access Bank Zambia Limited have asked the court to order with costs, the reversal or vary the restriction notice placed by ACC on the Mpundu Trust Limited on Leopards Hill Road in Lusaka.
The judge ordered that Ms Banda should be permitted to lease out the 13 flats at property number F/488a/29/A Leopards Hill Road and copies of the lease agreements between her and would be tenants should availed to the ACC.
Mr Justice Sichinga ordered that all rental proceeds should be deposited in Mpundu Trust Account Number 011001129311 held at Access Bank main Branch in Lusaka.
“The proceeds of rentals deposited in the said account shall be exclusively channeled towards the paying back of the loan facility owed to the 2nd applicant, Access Bank Zambia Limited,” he said.
He also ordered that except for the proceeds of rentals servicing the loan facility, all excess funds should remain in the said account pending the outcome of investigations or criminal proceedings.
Mr Justice Sichinga refused to award damages as asked by Ms Banda and Access Bank occasioned by the restriction notice because his court had no power to do so but that the applicants could seek damages or other relief in a fresh action.
Mr Justice Sichinga, however, awarded costs to Ms Banda to be taxed in default of the agreement.
Ms Banda of Villa Number Three, Plot 2758 off Leopards Hill Road, New Kasama who had sued in her capacity as director of the project, wanted the court to award her damages for the loss of time on the project claiming she was the lawful owner of the property.
She had told the court that she had applied to Access Bank Zambia Limited for a loan of up to US$600,000 for the completion of the construction of the 12 residential properties.
She had argued that Mpundu Trust Limited was established in 2009 to look after the interests of her twins and their future education and health needs.
But ACC had contended that their investigations were still ongoing and that Ms Banda was ‘highly’ likely to face criminal charges and be prosecuted in connection with the seized apartments and the property could be used as exhibit in the courts of law.
Your can download the Full Judgment Below
Yangwe mwebo mwilachusha bana Mpundu.I`m happy for her even though i have some reservation over how a school teacher like her ended up getting such a big loan for an ambitious project like that.All the best bamayo bana Mpundu.Shi mpundu atishani apo ? Imilandu shakwe tashilapwa ?
Koma mukumvwa bwino ngako mweo abemba ngati wakummawa ali na mulandu ka?
She is Mrs Banda namwe ba LT and not Ms Banda.l thought u need to b good at writing skills to b a journalist .Don’t involve everybody 4 the crims others might have committed .That’s demonic, @ #2 .
praise the lord shame the devil do you know the devil…….?
Sad state of affairs, vile corrupt chaps how can a little teenage girl who has never run a business or own tangible assets obtain a US $600,000 from the bank? There seems to be a 419 connection with this thieving Banda family.
PS. LT your comments section is now very very boring and it sucks – no reply or rating comments.
We will give your website the horrid Dora sign if you LT chaps don’t sort out your comments section…
The Judicially was rotten under her husband,it needs an overhaul ,let Judge chikopa stay until we clean up .shame on this family for stealing from the poor.
I knew it! Thandie, make more money in the end they will grab half of it, these politicians, anyway you must know them better since they are in your crew!
I miss the replies to the comments and ratings mwe.Sometimes when bored i even used to post something negative or contradictory to piss off some characters.I miss that.Ba LT fakanikoni nzelu twapapata.Even my sister Mushota has gone because she used to enjoy the hate and comments she used to generate.
Unwise Judgement by unwise judge, this why it taking us along time to develop Zambia. Clear case of abuse of office by her thieving husband. Very few Zambian judges are not corrupt. All well meaning Zambians ought to be mad with such foolish judgement. Stealing from the poor, God is the final judge, and it will be in this lifetime. The Banda family think they are so cleaver. A good name is better than gold, they will soon end up without any of the above. Don’t forget how FTJ and Regina ended up, rolex.
This judgement simply means Mrs. Banda got a loan from Access Bank in a process above board and her investment must pay back the loan. Simple and straightforward. If some money was laundered inton access bank, the investigators have a mountain to climb to prove this allegation. The dirty money was cleaned and it is as white as cotton. Besides, the state has up to June to gather the evidence and if none, the simply drop the whole case. Looks like its a RB-25 while DPP/PF-0. Meanwhile state prosecutors are earning allowances for appearing in court. Comedy continues.
Ba Lt I have been a loyal reader of your site but it looks like you don’t listen to your readers Above they are complaining over your decision to remove the reply button and you aren’t responding. I give you 2 days if you don’t I wIll sa bye and flee to Tumfweko and w/dog
Leave her alone
@zed forward i am with u, the thing is the same old corrupt judiciary that existed under the previous regime is still sitting in judgement seats, so this rubbish will continue until the rotten judiciary is overhauled.
I don’t know why people are complaining about
This decision a loan is a loan you want the country
To take over the loan besides the country has lost
Property tax
why did she not get the loan from our local zanaco or finance bank.The all mpundu trust i smell a rat.Did she use someones position to acquire this loan.The state must appeal with such kind of Judgement.Tandiwe is a mere school teacher and was just used by shikulu bantu.