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Post trucks impounded in South Africa

Today's edition of the Mast newspapers

Today’s edition of the Mast newspapers

A team of Zambian and South African police officers has impounded some courier trucks in South Africa, which reportedly belong to the Post Newspaper in Liquidation.
The trucks allegedly concealed are parked at South African Freight Forwarding Limited premises in Germstone area.The trucks were discovered after the Zambian and South African crack squad carried out an operation.
Post Newspaper in Liquidation Manager Robert Chawinga who accompanied the crack squad said the Liquidators are determined to recover all the assets.Mr Chawinga said the assets will be sold to offset the debt owed to creditors.
And South Africa’s Freight Forwarding Company Chief Executive Officer Robby Forbes said the trucks have been parked since July last year.Last year, a dozen Post Courier trucks were impounded in Shimabala area where they were reportedly concealed.
The Post Newspaper Ltd was placed under receivership and the process of placing the newspaper under compulsory liquidation was started last November.
The newspaper was shut down last year by the Zambia Revenue Authority for failing to pay millions of US dollars in back taxes.
The Post Newspapers is owing over K 187 million to creditors.According to a creditors list released by Post Newspapers Provisional Liquidator Lewis Mosho of Lewis Mosho and associates, the newspaper company owes among other entities Investrust Bank Plc, NAPSA, Development Bank of Zambia and the Zambia Revenue Authority.

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Category : Events in Zambia.
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