COURT OF APPEAL STAYS JUDGEMENT, THE VENTRILIGLIA FAMILY TO CONTINUE RUNNING ZAMBEZI PORTLAND CEMENT

The Court of Appeal has stayed the Supreme Court judgement which ruled that all avenues in the  Court Appeal need to be exhausted before appealing to the Supreme Court, reports Zambian Eye Correspondent.

This is a matter where Finsbury Investment and the Ventriliglia family are fighting over ownership of  Zambezi Portland Cement.

On Thursday, 3 October, the court ruled in favour of Finsbury Investment but the matter was quickly stayed by lawyers of Vintriliglia family who have been running the company as they considered the ruling to be unfair.

Court documents from the Courts of Appeal and made available to the Zambian Eye show that on Friday 4 December 2020 agreed to stay the execution of the judgement made in March which in essence stops the implementation of the judgment.

On 28 October, 2020, the Supreme Court ruled that the appeal from the Ventriglia’s was dismissed because they didn’t not exhaust all avenues in court of appeal then they applied for a stay and leave to appeal out of time which Judge Mwiinde Siavuapa refused on the 3 of December then on the 4th of December the Ventriglia’s applied for a stay to the full bench and it was granted by the court of appeal full bench.

As it stand, the Ventriliglia family will continue running the company as usual.