Zambezi Portland directors win back status,, Zambia

Zambezi Portland directors win back status,, Zambia
22 April 2010

The Supreme Court sitting in Lusaka yesterday restored Zambezi Portland Cement Limited directors – Antonio Ventriglia and Manuela Ventriglia as directors of the company, taking over from Lusaka lawyer, Robert Simeza who was operating it in receivership.

This was in a matter in which the two directors had appealed against the High Court’s refusal to grant them an injunction restraining Mr Simeza and Eastern and Southern Trade and Development Bank from taking over the operations of the company.

In a judgment yesterday, Supreme Court Judge Lombe Chibesakunda sitting with Hildah Chibomba said the court was satisfied that there was need for an interlocutary injunction to be granted to the appellants to protect company property.

Published under Cement News