Provisional Liquidator of the Post Newspapers Limited Lewis Mosho of Lewis Nathan Associates says he is confident that employees of the Post will be paid their salary arrears after settlement of sums due to assured creditor Investrust Bank Plc.
And Mr Mosho has disclosed that Investrust Bank Plc was last Thursday added to the winding up process of the Post Newspaper as a secured creditor after Lusaka High Court Judge Sunday Nkonde passed a ruling following a successful application by employees of the Post in liquidation.
Meanwhile, Mr Mosho has warned that he will commence legal proceedings against all persons who have continued to hide assets of the Post Newspapers in liquidation.
In a statement, Mr Mosho said all employees should register their claims with his office by phone or email together with their pay slips.
He has since warned persons holding on to company assets saying concealing these assets amounts to fraud on creditors which is an offence.
“Assets such as motor vehicles being held by employees are required to be surrendered for accountability purposes and shall be taken into account when assessing what is due to the affected employees. All employees must thus register their claims so that the claims are taken into account when assessing payments to employees who are still holding vehicles,” Mr Mosho said.