Judge Nkonde declares Post Newspapers insolvent
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.