The Lusaka High Court has set April 28, this year for trial in the matter where Development Bank of Zambia-DBZ-is seeking to recover 14 billion Kwacha debt from the Post Newspaper and others.
Other defendants are JCN Holdings and suspended Director of Public Prosecution Mutembo Nchito.
The matter is before Lusaka High Court Judge Justin Chanshi.
It was earlier handled by Supreme Court Judge Albert Wood when he was serving as High Court Judge.
Later the matter was allocated to Lusaka High Court Judge Nigel Mutuna.
Judge Mutuna in his judgment ordered the Post Newspaper and JCN Holdings to pay back the 14 billion Kwacha debt to Development Bank of Zambia-DBZ.
Afterwards the Supreme Court on December 17, 2013 sent back the matter to the High Court for retrial following the decision by the defendants to appeal against Judge Mutuna’s verdict.
Meanwhile, DBZ has demanded Specific Performance of the legal undertaking by the Post Newspaper and JCN Holdings to pay back the 14 billion Kwacha debt.
This is contained in the bundles of pleading filed in the Lusaka High Court.
Rupiah/Lungu Versus Nchito/Membe/Kabimba
Mundia, whether or not this involves RB, the fact of matter is that these guys are in court only because they wanted to defraud you and I and were prepared to abuse state machinery to silence anyone who challenged them to pay what they owed. We have to applaud RB if indeed it’s him pushing for this.
Its the Zambian people against a legion of economic criminals. They are no different from Kapoko.
We should not be sympathizing with such economic saboteurs as they are the enemies of justice and hope of millions helpless street kids, helpless old citizens and orphans. This money would go along way in addressing some social safety net issues in the nation.
RB has stolen more than this from us.
So Judge Mutuna is back? They have finally come home to roost. Woe to the ‘demi-gods’.
Sata’s stinking corpse is rotting but Nchito’s job is on the knife edge, his debts are rising and his sins are beyond redemption. It is the time for the cartel to knash their teeth. I am happy justice is slowly coming. Go and did out Sata to save you.
It is GNASH my brother and not KNASH
Any case that can be levelled against madam chibesakunda? Things seem to be going anticlockwise for mmembe and team especially after michael this, michael that, michael lamentations!
This woman should be JAILED for breaching the Constitution!
How can a person that ignores the highest law of the land be “acting” Chief Justice? It makes our laws a joke!
This is TOO BIG to just be swept under the carpet. She is Zambias NUMBER ONE criminal and must be punished for her crimes.
Until that happens we are lost.
HOW many Zambians have borrowed money and failed to repay the loans. Is it only Mutembo Nchito and company or there are a lot of them but it has fallen on the Post and Nchito due to politics.
You are the judge and be honest with your self.
o/100. It does not matter. People are stealing everyday. But its those that are caught that go to jail. We have caught Mmembe and Nchito.
Even Rupiah & Sons stole why are hey not in jail?
Even Rupiah & Sons stole why are they not in jail?
@Jameson Kaliza….
This attitude of borrowing and not paying back must not be encouraged. Besides, the arrogance displayed at the time this case was in court led to the public interest it generated. Further, this practice of not paying back loans should be curtailed. Yes, we know business failures do happen but the borrower must work closely with creditors to agree on restructuring the loan in accordance with the circumstances. If you cared to pay attention to what was happening in this case, you would not have written what you did unless of course you are directly affected in which case you should have kept quiet and prayed to God.
@5 Jameson Kaliza – HOW many Zambians have borrowed money and failed to repay the loans and have had their collateral attached and sold under the hammer? Is it only Mutembo Nchito and company who can borrow money and neglect to pay back and get away with it?
You answer these questions before you can condemn justice befalling Nchito and company.
Many poor Zambians have lost their properties after failing to pay bank loans. If it was you who borrowed from DBZ and failed to pay, you would have lost your properties by now. This cartel wanted to avoid paying the debt by using political connections. Membe can fool some people sometimes but he cannot fool all the people all the time. Let him pay that debt.
The other Zambians who fail to pay back loans suffer the consequences. These chaps have been hiding under MCS umbrella. Now that the umbrella is no more they have to face the music.
Other Zambians lose their chattels if they fail to pay back loans.
The long hand of justice has at long last reached out. True is the saying ‘you can fool some people some time, but you cannot fool all the people all the time’. I only hope that all this long years of hide and seek will be compensated by interests.
What goes up must come down, that is of course if the cartel is found guilty. But knowing that clique, tomorrow the Past news will pass disparaging if not insulting remarks against the presiding Judge Justin Chanshi in order to drag the case to contempt of court and delay the main case. You just wonder what sort contamination is in the DNA of these cartel!
Let’s be steadfast so that this time they don’t legally nyunya us again.
Ba LT, its K 14 Million…………….how embarrassing!
But elo lwanya! The Bwinjimfumu cartel is made up of very intelligent and well educated people. The only way to corner them is through established laws. It must be getting hot in there.
This is agony for the cartel. They will now spend all their time in court or tribunal on the receiving end of the law.
And the Past news has the additional of accusing Edgar everyday in their editorials….until hopefully they are either locked up or found legally innocent……I mean not innocent by editorials.
Vabaukila vibanda lelo ba cartel.
Chickens have come home to roost, those living in Glass Houses should not throw stones!
These tricky waters. Lets see how it all plays out. Lol
Our sytem needs reformers and neither the current leadership has the guts to do it.only richard sakala and gladys nyirongo served a prison sentence,none of the bemba thieves went to prison.xavior chungu ,stella ;liato etc.
Tonight I am just thumbing down all comments since no one seems to know how the financial markets work! Some one tell me please, how was the 2008 recession caused?
# 13 big gun,
A lot of publications out on the 2008 recession for you to read. Mine out and help yourself.
Trial in the High Court will take 2 years. Guilty o not, there will be appeals by either party to the Supreme Court. Then another 2 years. There will be a new government by then, probably UPND or Rainbow and it will be back to square one. By then, it will not matter because RB if still alive (God willing), will be enjoying his retirement as a free man.
Who remembers Shamwana, Tembo, Chiluba trials?
That is how things are. In 5 years time, nobody will remember anything.
Unfortunately its the poor people that pay the price. These rich mangwams enjoy the loot.its a joke and pathetic…
Unfortunately its the poor that pay the price. The rich mangwams live to enjoy the loot. Its a joke. Pathetic too…
Justice delayed is justice denied. We may fail to correct the past but we may change the future.
We have lost the real debate on DBZ loans. The real debate here is who authorized loans at DBZ????. Did DBZ carry out due deligence before approving the loans?? Was borrower capacity to repay assesed?? Did DBZ assess risk and so forth?? When a bank make bad loans who is to blame if borrower fail to pay??? ??? … Someone at DBZ should be held accountable.
@Chansa……
That is why the reviving of this case in courts of law is most welcome. Yes, we will now know the whole story. Thank God we have online tabloids to reveal what Times of Zambia, Daily Mail, ZNBC. Bring it on….
Thank you ECL for listening to the opposition especially UPND and HH.
Good question. Who authorized these loans. Magande and is why the Post wanted Magande over RB. Have you not wondered why Magande has been quiet all along on this issue. It is because he knows that he is part of the mess. These are the people who say they are the best economic managers yet Magande simply glossed over what Kasonde, Penza, Nawakwi and Kalumba suffered to bring the country to HIPC.
Something is not adding up. Judge Mutuna was suspended by Sata. Could this mean Mutembo & Co had influenced Sata to get rid of Judge Mutuna and the other judges who have just been reinstated? If this is true then our country is in serious trouble from the Mafia Type Cartel.
@ Ndaje Kahks
Definitely something outside “normal” judicial process. How many “cartels” are operating in Zambia? Only one? Two? Three?………..
It is reading like one of those James Hadley Chase novels. I wish I was a writer. This is nice stuff for a thriller.
President lungu has listened from the majority zambians cry over the dbz loan and not a group called upnd, hh on his campaigns never mentioned dbz loan.president lungu talked about it at all campaign rallies no wonder he won.
M’membe say the nkonkole is foolish to judge chanshi i hope its mutuna to fry M’membe and Nchito like i said just wait and see the two now have sleepless nights and the honourable judges should ensure that the *****s pay with interest. Wina azalila nanga ni ndalama za nyoko lipilani chabe. kkkk
@Jameson Kaliza u must be a bit behind with these issues. When a person gets a loan for example from Barclays and fails to pay, that means it is between that person and Barclays to sort out that default. But this DBZ (Development Bank of Zambia) the government is directly connected that’s why they are involved in it. Unlike the one for Barclays they can’t get involved because Barclays is not Parastatal company. Its private. So u can’t say how many people have borrowed and have failed to pay?
DBZ = Development Bank of Zambia really????. If you remember Dora Siliya and Rupiah Banda’s utterances towards Zambian Airways when Bwezani was acting President after the death of Mwanawasa, no sane businessman would risk having his or her money in that Airline. Dora was beating war drums over a Zambian company while American Airline was being bailed out by Obama during the same period! She refused to give them incentives during the recession but opted to let other foreign companies off the hook.
US company AIG lost Billions of Dollars in complicated financial instruments but still got money from government and had their debt written off. DBZ and Zambian Airways was a purely business transaction that went wrong! No underlying statute was ever violated!
Slavery took 400 years not because white people suppressed black people. But because the strongest and well informed black slaves who got better treatment, kept the other slaves in check.
Talk about history repeating itself! Here you are dancing on your tails when you are fighting each other while your own country is being taken over right from under your noses! Has Mopani paid anything towards what they have stolen? I am using the word stolen with no fear here and mindful that it is my real identity that I am using. Have criminals at KCM stopped polluting our rivers in Kalulushi or paid what is due to the people?
What about the discrimination of our people in North-Western Province by foreigners constructing their own townships where locals aren’t allowed? Ever thought of that?
Ngombola stop being a nuisance. Even if u want to defend Mmembe with your blood, it will not help you as Zambians have just come to terms as who Mmembe is, a cheat, liar, full of hate, farting germ and irritating thief.
He uses a newspaper to blackmail convict and destroy reputations of innocent Zambians. But no more. Am sure even HH of UPND wants Mmembe to face justice.
We always say pay back the money.
Is it Fiction or Reality? Mmembe & Co realise that for them to cover their tracks they have to use Sata, the man they have just helped win the Presidency of the Republic of Zambia. Remember they running battles with Rupiah Banda former President. They know that although Sata is very clever, he is not sharp in interpreting law. So they come up with a scheme that forces Sata to set up a Tribunal to probe certain high judges – mainly the one that were handling the DBZ case. They ensure Sata imports some obscure Judge called Chikopa from Malawi so that the Judges are not protected by local judges. The plan seems to be water tight but as usual nature has its own way of creating loose ends
Mundia let us be factual in our discussions, You are saying even RB & Sons stole why are they not in Court? Mundia if RB & Sons had truly stolen the cartel could have been parading the evidence against them. Remember that Mutembo Nchito dubious put Henry Banda’s name to the INTERPOL, INTERPOL put his name on the wanted list but also demanded evidence after several months INTERPOL removed Henry Banda’s name because Mutembo Nchito failed to give evidence to INTERPOL which showed that Henry Banda might have stolen money. But he is a freeman just like other Banda sons. for Fred Mmembe and Mutembo Nchito there is overwhelming evidence of their fraudulent activities. Wapya munzi
I will buy the best red wine to celebrate the people’s victory. God bless President Lungu for restoring normality in Zambia.
The case is going no where under commercial law. If there were no director’s or shareholder guarantees, DBZ can only go as far as realising the assets pledged as security or indeed realised directors personal assets if there was a guarantee. The airline was a separate legal entity and it’s the one that borrowed and failed to pail. There are very special circumstances when the corporate veil can be lifted if it can be proved that money was syphoned by the directors and shareholders. In this case there’s speculation driven by revenge and personal vedanta. Reports are there at ACC and DEC that show that there was no fraud. All lenders were investigated and report was tabled to GRZ.