Vehicles, the main computer Saver and various pieces of office equipment that were recently seized from Stanbic Bank Zambia Head Office by bailiffs from the Sheriffs of Zambia office will tomorrow be auctioned.
Four Toyota Hilux vehicles, a Hino Truck, a Nissan Van and a computer server are all part of the assets belonging to Stanbic that will be auctioned on Wednesday.
Other pieces of office equipment include Lounge suites, photocopiers, office chairs, carpets, refrigerators, fillings and microwaves and others to many to mention.
This follows a High Court ruling which granted Savenda Management Services damages amounting to K192.5m against Stanbic Bank Zambia for loss of business resulting from its negative credit agency listing.
Justice Justin Chashi awarded damages to Savenda for losing significant contracts after being reported by Stanbic bank to the Credit Reference Bureau for defaulting on instalments.
Justice Chashi found the non-payments were the bank’s fault and made other findings that will affect relations between other businesses and their bankers.
The auction will commence in the afternoon at the Sheriff’s office at Kambala road in the Light Industrial area while a similar auction of the saver and other bank equipment will take place at the Bank’s Headquarters on the same the afternoon.