Sat, 11 Mar 2017 11:37:36 +0000 THE LUSAKA High Court has thrown out an application by Fred M’membe for an injunction to restrain Investrust Bank from handing over assets held in securities in connection to the debt owed by the Post Newspaper. High Court Justice Winnie Mwenda said Mr M’membe had no locus standi to make any claim or speak on behalf of the Post Newspaper in liquidation when there was a provisional liquidator in the name of Lewis Mosho appointed to wind up the company. Justice Mwenda said Mr M’membe had no legal standing to institute court proceedings against Investrust Bank Limited outside the authority of the liquidator as he claimed in his affidavit. “It is my considered opinion that the claims do not disclose any reasonable cause(s) of action for the reason as a shareholder in the Post Newspaper Limited, the plaintiff has no locus standi to institute these proceedings on behalf of […]
