The Liquidators of the defunct Post Newspapers limited have promised to pay the creditors after selling the assets of the company following the Lusaka High Court’s decision to declare the company insolvent.
Recoveries Manager of the Post Newspapers Limited Robert Chabinga says he will start by paying secured creditors, former Post Newspapers employees, the Zambia Revenue Authority and other creditors as prescribed by the companies Act.
And Mr. Chabinga says initially the liquidators wanted to find a commercial solution to the company’s problems but some shareholders opted not to cooperate.
He has warned former Post Newspapers workers who are holding on to company property to surrender them before they are followed up.
Addressing a media breakfast in Lusaka, Mr. Chabinga said it is sad that some shareholders opted to politicise the matter, leading to the closure of the company.
He said the company was declared insolvent by the courts of law and not any individual adding that it is therefore wrong to suggest that there was politics at play when the matter started and ended in court.
Meanwhile, Mr. Chabinga has called for regulation of social media.
He says it is sad that some people have continued insulting other using social media, further suggesting that government should come up with laws to regulate cyberspace.