By REBECCA MUSHOTA –
THE Post Newspapers Limited (in liquidation) provisional liquidator Lewis Mosho has said that he will commence criminal proceedings against people who are hiding the assets of the company in the next few days.
Mr Mosho said some people had allegedly continued to hide company assets and he would soon start criminal proceedings against them.
“Concealing these assets amounts to fraud on creditors and constitutes an offence under the laws of Zambia,” Mr Mosho said in a statement released yesterday.
Last week, Mr Mosho issued a three-day ultimatum in the Press for people who had in their possession any of the 139 company vehicles, to surrender them.
The vehicles were listed as company property, but are missing and believed to be in the possession of some people.
Mr Mosho said that assets such as motor vehicles being held by employees were required to be surrendered for accountability purposes and should be taken into account when assessing what was due to the employees.
All employees should, therefore, register their claims so that they (claims) could be taken into account when assessing payment to employees that were still holding on to the vehicles.
Mr Mosho said he was confident that employees of the Post Newspapers would be paid their salary arrears after sums due to the secured creditor, Investrust Bank Zambia, were paid.
Investrust had been joined to the winding up proceedings of the Post Newspapers as a secured creditor.
This followed a ruling of High Court Judge Sunday Nkonde on Thursday last week after employees of the paper made an application.
Mr Mosho said he was working on modalities on how assets would be sold in order to pay creditors, including preferential creditors such as the Zambia Revenue Authority.