CHOMBA MUSIKA, Lusaka
POST Newspapers (in liquidation) provisional liquidator Lewis Mosho has warned former directors and shareholders of the newspaper against interfering in the winding up process of the company as he prepares payments for creditors.
Mr Mosho has urged the former directors and shareholders to stop misleading last employees of the company who have not yet submitted their identifications in readiness for payments due to them.
He said in a statement yesterday that payments for creditors after the assets are sold will strictly follow the relevant provisions of the law.
“Former employees of the company who have not yet submitted their credentials are encouraged to do so to enable the company to update the list of payments due to employees,” Mr Mosho said.
He said creditors who have submitted their claims to the provisional liquidator, excluding secured and preferential creditors, include the University Teaching Hospital, Zamtel, Workers Compensation Fund Control Board and the National Assembly.
Others are Zambia Postal Service, Zambia State Insurance Corporation, Hazida Motors, Yeti Motors, Gilat Satcom, Xinhua News Agency of China and Development Bank of Zambia, among others.
“Priority after secured creditors shall be given to all former employees of the company as preferential creditors who are ranked together with statutory obligations payable to the Zambia Revenue Authority (ZRA),” Mr Mosho said.
The Post Newspaper was closed last year by ZRA for failing to honour its tax obligations amounting to about K53 million and was placed under compulsory liquidation by the High Court.
The High Court appointed Mr Mosho as provisional liquidator in respect of all assets of the newspaper company.