THE Intermarket Securities (Z) Limited has been sued by a law firm, Tembo, Ngulube and Associates, in the Lusaka High Court for failure to pay over K300,000 as legal fees.

According to a statement of claim filed in the principal registry, the law firm stated that Intermarket Securities (Z) Limited was their client in 2013 and that they were retained to act on their behalf in a matter where it was sued in the Lusaka High Court under cause number 2013/HP/0583 by a client Rosemary Nachilombe Kabwe who wanted them to render an account of all sums realised from the sale of her K6,135 ordinary share in Zambia Sugar PLC.

The firm stated that it agreed to act for Intermarket Securities and diligently and zealously represented them until the conclusion of the proceedings in court.

The plaintiffs stated that it rendered it’s fee note to Intermarket of K312,136. 62 for the services it had rendered to them but that to date, the company has failed to pay the monies.

The law firm further stated that in 2016, Intermarket yet again retained their services in another case at Kitwe under cause number 2016/HKC/0014 wherein they were sued alongside another defendant by the Workers Compensation Fund Control Board for the recovery of K262, 211.31 being interest on dividends they had wrongly paid to a third party.

The plaintiff stated that after representing them, they rendered a bill of K19, 098. 00 for the legal services offered which Intermarket failed to pay.

The plaintiff stated that they have continued to suffer loss and damage as a result of the defendant’s failure to pay them.

They are claiming the money with interest, costs and any other relief the court might deem fit.