MEANWOOD Finance Corporation Limited has sued former Lusaka mayor Fisho Mwale and his business partner in the Lusaka High Court for failure to pay back a loan of over K380,000 they acquired last May.
Meanwood Finance Corporation has in this matter cited Mwale and fellow businessman Sungani Cisanzo Mwale for refusal to pay back a loan facility of K175,000 which has since accumulated to K380,140 plus interest as at January 18.
In its statement of claim filed in the principal registry on March 16, Meanwood Finance Corporation submitted that it entered into a loan facility agreement with the duo on May 21, 2015 whose principal sum was K175,000.
Meanwood Finance Corporation submitted that despite several reminders and demands both verbally and in writing, the duo has wantonly refused, failed and neglected to settle the outstanding loan facility which by January 18 grew to K380,140.
The finance company submitted that the duo has no bona fide defence whatsoever at law or at all to the company’s claim and asked the court that judgment be entered against them accordingly.
By reason of the refusal by the duo, failure and or neglect to settle the outstanding loan facility, Meanwood Finance Corporation stated that it had suffered loss and damage. The company therefore sought an order for payment by the duo in the sum of K380,148 as at January 18 and continuing being in respect of the loan facility obtained at their own instance and request.
The company is also demanding interest on the said amount at current Bank of Zambia lending rate from January 18 until payment in full, costs of the action and any other relief the court might deem fit under the circumstances.
Meanwood Finance Sues Fisho Mwale Over K380,000 Debt added by Editor on
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Fisho Mwale akaliko?
Ci debt ici but cakuya naco…………………..
KALOBA Just like NEZ
HOWCOME, HAS THE FRIENDSHIP CEASED? FISHO’S SON WAS AN EXECUTIVE IN ONE OF THE MEANWOOD FINANCE COMPANIES, WHAT HAS GONE WRONG? F
This is that vulture fund man who cares only about himself and not zambian people. He sucked zambia dry during that vulture fund scandal.
Fisho Mwale. We have not forgetten. On this I agre with NEZ
iam sure late Siteke Mwale left enough houses for his children. But why not get Fisho’s house in chudleigh A? We once rented in that house. Its worth 5 times this amount.
life under PF, even the crooked rich thieves are now struggling. things are bad
You are right comrade NEZ,sivintu. Keep it up comrade,you are the man.