MAHTANI LOSES; COURT DISMISSES FINSBURY APPOINTED CEO APPLICATION TO STOP CONTEMPT 

MAHTANI LOSES; COURT DISMISSES FINSBURY APPOINTED CEO APPLICATION TO STOP CONTEMPT 

The Court battles for the control of the Cement company, Zambezi Portland Cement ZPC continues to rumble on as the latest episode has seen the Finsbury appointed Joint Chief Executive Officer Phesto Musonda and his co-accused Jimmy Kalunga’s motion seeking the court to dismiss the Contempt of Court charge slapped against them for storming ZPC premises in September last year has been thrown out.

 

Mr Musonda was arrested by police in Ndola after he and a horde of suspected cadres stormed ZPC premises and tried to take over operations in the process damaging company assets and over 30 vehicles belonging to the workers at the company.

 

The duo will now have to defend their actions in Court after their motion was thrown out by the court of appeal on Wednesday 7th September 2022 for blatantly disregarding the Court of Appeal Stay dated 4th December 2020  which stayed the Order of the Single Judge of that Court.

 

In the latest ruling, the Court of Appeal will proceed to hear the Respondent’s Motion for Committal of the Appellant’s agents named above for Committal to Contempt as they are said have disregarded the order of the full bench that stayed the order of the single Judge.

 

Mr Musonda’s action came after the order of the Single Judge was stayed as the Respondent alleged that it varied the judgment of the Full Court which among other things ordered that the Appellant and the Respondent would be the only shareholders in Zambezi Portland Cement Limited.

 

Further, the judgment ordered that the Appellant needed to pay the Respondents K580,000,000.00 to be recognized as a shareholder in Zambezi Portland Cement Limited within 90 days but the Appellant did not comply with the order.