Fri, 12 Jan 2018 09:27:57 +0000 By CHINTU MALAMBO FRED M’membe’s Post Newspapers has finally shut down after being liquidated by the Lusaka High Court in a judgement passed yesterday that found liabilities totalling $17million (K171, 672,492.11) that were far greater than its assets amounting to $1million or (K11, 437, 880.90). High Court Judge Sunday Nkonde entered a consent judgement where he declared the paper insolvent and wound up following its liabilities that far outstripped its assets. Judge Nkonde said the Post Newspaper was unable to pay its debts and could not be rehabilited or rescued in any way. “The Post having its liabilities exceeding its assets and having been unable to pay its debts as they fall due with no reasonable prospects of being rescued or rehabilitated whatsoever and however is declared insolvent and wound up,” the judgment read. He also said there were no reasonable grounds shown to oppose the winding up petition. […]
