Lusaka High Court Judge Sunday Nkonde has declared the Post Newspaper in liquidation insolvent.
Judge Nkonde ruled that the liabilities of the Post Newspapers in Liquidation exceed the value of its assets.
In a Consent Judgement delivered by Judge Nkonde, the Post Newspapers is unable to pay its debt.
Judge Nkonde also stated that the decision has been made because there are no reasonable prospects of the company being rehabilitated and that there were no reasonable grounds advanced to oppose the winding up of the company.
Following this Judgement, the liquidator can now sell all the assets of the company in Liquidation and pay the debt.
And Judge Nkonde has confirmed Lusaka Lawyer Lewis Mosho as the Liquidator of the Post News Papers Limited in Liquidation.
History will judge this man very harshly. He better pray every day that ECL remains President of Zambia for a long time because this is one judge who will be pursued and prosecuted for all the wrong he has done.
You can’t target a judge like that, hombre. The best Fred can do is appeal to a higher court. If the judgement goes against him, no president or party will overturn it or hold the judge accountable.
But It’s clear from the income statement that their liabilities exceeded their assets. My understanding of the term insolvency is the situation where your liabilities far outstrip your assets. So the judge has gone by the book so please don’t blame him.
RIP The Post
*****, do you know how much money that post owner and his other thieves stole from hapless Zambians? Do not just speak from without. They owe Taxes and Zambian airways loans.
Chizungu Chakupita. Is fred Membe your uncle?
My Zambia, what did you want the poor judge to do? If you’re bankrupt the court will rule as such. Sometimes you should put politics aside otherwise we shall never move forward.
Rest in Peace yakuti? Rest in ShiiiT
Good Riddance to bad rubbish. Let me even take a shot of Glenfiddich 21
Cheers to that. Having a cold Heineken, bottoms up!!!
What I fail to understand is the impunity with which this Judge is working. Does he really think that PF will always be in power? I don’t know him personally but I honestly pit him
It has nothing to do with PF being in power but everything to do when those that advocate social justice and claim to speak for the masses become partisan. Let this be a lesson.
zambia needed papers like the POST,it makes our democracy thrive!.Give Fred his dream paper ba ECL.
We also need these companies to pay their dues without cheating the state!
BEBE – We do not need the POST, we need media houses that will not go to bed with politicians.
but the papers like Post must run like business and balance their books. No shortcuts.
CHICKENS COMING HOME TO ROOST!!
This M’membe, & his POST were responsible for unleashing The P.F, disastrous experiment on Zambian’s, who are now experiencing untold suffering, while the few including Chakolwa become U$D Millionaires!
ELO LW@NYA!! Enjoy!
I thought the Chief Justice wrote to this judge asking him to recuse himself from the Post proceedings.
So, judges don’t have to obey their boss? Smh 🙁
I don’t know who feeds you rubbish on how governments operate. Only the JCC has the power to discipline judges. Fred failed to cite misconduct against judge Nkonde but instead presented the judgement by Judge Nkonde as misconduct. Pure abuse of the judiciary.
Realities of life stipulate that you reap what you sow. Fred had the trust of Zambians as being the fourth estate of our governance system, the beacon of hope in our growing democracy. He abused this privilege and greed and lust for power got the better of him. Eventually, his transgressions far outstripped his good deeds. With no higher power to protect him, his demons caught up with him. Farewell, post, it was a pleasure having you. Godspeed, Fred, it’s been a life lesson.
@Zambian Citizen,
You are spot on! i cant wait to see what ECL and this regime will reap! Posterity will judge your bottoms!
The truth be told , PF could not live with the post…..their corruption would have been daily food for the Zambian public……..the post was still a vaiable company employing directly and indirectly thousands, if this was only about monies owed GRZ was going to work out something…….but the corrupt theif lungu thought destroying the post will let him and his gang loot in peace….
You NEVER followed this case, did you? Because it shows how ignorant you appear to be about it!!!!
The future says when lungu and his gang of theives are in the courts of law for charges of corruption , the post will be reborn and its reporting on their vorruption will be the nose around their necks……
Continue dreaming.
If wishes were horses even beggars would ride..
All that hard work is gone just by the stroke of pan.
Koma uyu muntu enze nankongole !!!!
Thank you for seeing Fred off.
He caused unbelievable misery to innocent citizens.
As for the UPND,they don’t have a strategy.
With everything we know,how can they support Fred?
The post will be back, these are the same mistakes politicians make one destroys or grabs something the next one with a different mindset will come and reverse the whole thing. Many foreign companies and mines get away with such things and we punishing an indigenous company like this, the unemployment Lungu caused with such actions might have contributed to more vendors and cholera as people have no more jobs
The Post is already back it is called The Mast…………..people
Dig a little bit deeper about Nkonde guys, you will be surprised who the kind of person he is. He doesn’t fit to be a judge. The post is a very complicated issue and this judgement is based on personal vengeance. Zambian judiciary is a laughing stock because sitting presidents play a huge role.
Good job! “The late cartel!”
No laughing matter. UPND is a laughingstock tribal party. No principles!! Any issue on the table, they think tribe first before they tackle a matter. A party of Under Fives!
For those of you who can not read between the lines. Fred members has just been saved from paying the Billions he owes. Whatever they will sell is not equal to what he owes. Mean while he has another source of income in the Mast.
You are right and the *****s think they have fixed Mmembe, he is too smart for them, what they have killed is the name Post nothing else.
No loss and serves Fred right because he was the one who brought Sata to power with the support of the Post. Good riddance!!!
Bamuchita Kanthu mambala…big damage when a ton of bricks falls on u ka!