High Court orders FDH bank to pay Maranatha K392mil

High Court has ordered FDH bank to pay Maranatha Girls Academy Limited K392 million for as compensation for loss and damage arising from a breach of three months statutory notice by FDH Bank.

Judiciary spokesman Mlenga Mvula: Compensation trimmed to K392 million

Judiciary spokesman Mlenga Mvula: Compensation trimmed to K392 million

The court ruling in Blantyre has reduced an earlier compensation which the court ordered FDH Bank on April 4 2015 to pay Maranatha K784 830 909.16 (about $1.2million).

Court documents show that Maranatha Girls Academy Limited sought declarations on a matter regarding a notice of intention to sell the applicant’s property Title Number South Lunzu 7/45 (Maranatha Girls Academy Limited) advertised in the newspapers on September 17 2013, which the court found to be wrongful and flouting Section 68 of the Registered Land Act.

In his determination, Judge Kenyatta Nyirenda said the amount of compensation has been “trimmed to about K392 million.”

According to judiciary spokesman Mlenga Mvula, Judge Nyirenda pointed out that 50 percent of the amount should be paid “outright as FDH prepares appeal or any other subsequent action.”

Last week Sheriff of Malawi stormed FDH Bank Limited to seize office equipment from its Umoyo House Branch in Blantyre to enforce payment of the compensation to Maranatha.

Head of marketing Sobhuza Ngwenya, FDH Bank, a subsidiary of FDH Financial Holdings Limited, said Maranatha Girls Academy Limited owes FDH Bank K281 820 906.47 (about $424 000) which has been outstanding for several years and FDH has been trying to recover the money by selling the provided collateral for the loan.

Ngwenya said FDH Bank cannot recover the debt because the court stopped the process through an injunction still in force.

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43 thoughts on “High Court orders FDH bank to pay Maranatha K392mil”

  1. Wabandiwo says:

    NO 11 What about the money you stole from Zimbabwe firm ? was it not for other shareholders too?

  2. Judgementday says:

    From my personal experience with Thom he is a man of not trustworthy when dealing with customers. He sees himself being on top of Malawi because of his good connection with the TOP OFFICIALS in the Government, Judiciary and Politicians hence he cares not of anybody in this country.God is will judge every body accordingly and no matter what favours one receives on earth. I feel very sorry with the behaviour of Thom in the manner he treated Zimbabweans and he should thank Reserve of Malawi and Malawi High Court for standing to his side.

  3. MBUMBA says:

    WATICHOTSA NTCHITO
    GALU AMENEYO
    AKHAURE BASI !!

    TAMBWALI MNZAKE
    WA MULLI.

  4. Madalitso Chiwoni says:

    Failing to understand the racist/tribalistic people here. A Registrar who is not from the North gave Kaonga K780 million. A Judge from the North reduces that amount by half. The Judge is then accused of tribalism? SMH

  5. Belushi says:

    I feel the story or genesis of the story is not being told. Is it deliberate to make FDH look like a victim and have us think the determination by court was agreed outside court?

  6. Mapwiya says:

    This calls for mob justice on.this Kaonga thief coz his capital letter speaking friends in the judiciary have raped justice.

  7. Judiciarypathetic says:

    Dear ALL

    FDH has been on the helm for a long time right away from Zimbabwe case. Perhaps many of you do not know the background of FDH firm and you just make comments unknowingly. Loans have to be taken and its not a sin at all but if you see clearly ma BANK AWA KWACHULUKA NDI KUBA. FDH has on many times been favoured by both the Government and Reserve Bank of Malawi as well as the Judiciary because anthuwa AMADYA MOMWEMO. One wonders the amount trimmed from K794m to half of it? This profession is not trustworthy these days and am nor surprised at all. In Malawi if one is not connected to politicians which is the Government then you cannot win any case in our courts and you can take or not I don’t care. You can see it yourself how many brothers and sisters have now suffered at MSB under the leadership of Thom, is this what the Government wanted its citizens suffer in this way? very PATHETIC and yet the GONDWES AND LIPUNGAS are now enjoying KUNO MKUNJA NDI DZIKO ILI NDIPO WOLAMULIRA NDI MULUNGU YEKHA BASI and HE is watching.Economically Thom has damaged the economy of this country as he did with Zibwabwe. If you cannot find justice in our courts where else will one find it????????????????????

  8. WE says:

    We don’t fukin Care to know the genesis of the story or whatever happens to FDH because the owners of this bank are satanic so to say.
    They don’t even care to whatever happens to other people’s lives and moreover they bought MSB bank with peanuts.
    Yes , We are urging everyone to close or not do any business with this bank as it is there to promote satanism .
    We are praying to the Living Almighty God to protect and look after the people this bank might have mistreated through it’s satanic and barbaric behavior .
    And we pray that all future cases of this bank do not go on their favour.
    Amen

  9. bwiyache says:

    Ndawerenga ma comment onse but seems no one has the genesis of this case. Here is how everything started and unfolded;

    Maranatha took a loan of 18Million from FDHBank. The loan accumulated to 23Million and FDH continously sent demand notices and property seizure notices to Maranatha. Faced with this situation, Maranatha took katapila from (name withheld) and repaid the loan in full. However, FDH Loans department did not update thiis full repayment in their books and it continued to appear as unpaid and continue acculating interest till it reached MK238Million. Then FHD legal department advertsied, recklessly with abandon and as is the case with our banks for sale of Maranatha when in fact the loan was repaid years back. With this scenario, Maranatha sued for loss of business, as his property was advertised for non payment of loan which he had already repaid. Even me would have done the same.

    1. The Analyst says:

      O………………………………………………………………………………………………………………………………………………………………………………………………………………………O
      This story you have related is somewhat failing to add up . . .

      The time taken for the loan to accumulate to K238 after it was already repaid, is just too long for anybody to not have communicated to the loans’ department to update their records.
      . . . Coz we can safely believe that when the loan was repaid yet not recorded as such (as per your version), FDH must have kept reminding Maranatha.
      . . . Now, do you suppose that Maranatha could not have angrily called Mpingangira and told him about this carelessness on the part of his staff?

      The loan was not repaid. Simple! You can cheat others but not some of us!
      O………………………………………………………………………………………………………………………………………………………………………………………………………………………O

  10. mmbalewakewamungopark says:

    Kenyatta’s rulings backfiring on the lomwes kkkkkkk. musova

  11. Ngumbipotuluka says:

    When Kenyatta made the lomwes victors in 2014 elections the lomwes thought it was good now it backfiring on them. Live with it you thieves and unprincipled people. God watches and acts at the right time.

  12. madalitso says:

    WAIT FOR ANOTHER LOSE TO FDH LAW SUIT !
    HOW CAN THEY SAY THEY FIRED PEOPLE FOR NOT BEING HARD WORKERS ? KKKK
    RIGHT NOW MOST OF THE MSB/FDH CUSTOMERS ARE CLOSING THEIR ACCOUNTS.
    I SUPPORTING MOSLEMS WHO I UNDERSTAND HAVE AGREED TO WIND OR CLOSE UP ALL THEIR BUSINESSES WITH THIS BANK
    AMAGANIDZA NDIOCHENJERA !!!

  13. Dr tonde says:

    This is one of the reasons I hate these capital letter speaking assholes!!!!!

  14. chikopa says:

    Kenyatta milomo yake ili psuuuu! Matenda akhodzokera. 50% down payment is awkward as the matter must go for appeal. How can Maranatha be able to repay should the upper court found put that the lower court erred? Court could for immediate funds if the defendant is likely to leave the country or economic condition is worsening up. This is not the case here with a well established bank. Malawi Law Society and your fuckin friends in Judiciary you are just a bunch of shit.

    Apa zayambika za a tumbuka. They want to cause problems to the southerners and this is dangerous. Please, please, Chief Justice avoid this type of stupidity! Mob justice is on the rampant because the society has run out of confidence. Check where this is happening. This is only in Southern and Central Region. The fuels are exposed and it only requires a match.

  15. Mapwevupwevu says:

    Why should FDH pay half before appeal? Is the half the judge’s cut in this shameful ruling?

  16. wobeba wanga says:

    Iwe Kaonga ndi Thom, bwanji osangokambirana monga inu mipesa? we should have discussed this issue privately without letting the whole world know about this.
    And you Enest Kaonga, Why embarassing your friend like this?????????/

  17. Hokoyo says:

    Koma umbuli uli pano. Before commenting please read the facts of the case and the entire judgement.

  18. BABAZULA says:

    @Phiri wa Phiri..your writings has some sense but just by showing some Tribalistic approach..kagwere..mbuzi…

  19. Moses Makoko says:

    It does not rain, it pours. more legal issues to come. that’s what happens the moment u think Ur big enough to be a village champion. misonzi ya a malawi sinati kupukutidwa.
    ukaipisila pa thengo ulibe tissue, usayandikire Agalu, adzakupangitsa manyazi atakukoka buluku nanga samasatira ka aroma kochokera mmbulukumo. ovinidwa wamva.

  20. GRM says:

    What a ruling? This is a draw game had it been football. He borrowed huge amounts without regard to risks. He inconvenienced himself by losing that business. The bank also lend him too much without regard to risks. It inconvenienced itself by not being repaid. JUDGEMENT: Draw a license ayendere yoke no compensation AKAMBIRANE WITHOUT RESULTING TO COURT. That is judgement through reason NOT THIS UNREASONABLE JUDGEMENT.

  21. No Laughing Matter says:

    That’s why bank’s must have good legal experts to deal with very smart crooks understand the law more than you do

  22. Phwado says:

    Time is very close when we shall burn all corrupt bigazholez alive.watch me.Including both Kaonga ans Mpinganjira.

  23. Zondiwe says:

    No 11 get your facts right. The Tumbuka Judge is the one who has slashed the amount from K700 million to K392 million.
    What you should have said is that probably the loan repayment by Maranatha should have been dealt with first before the loss of business claim by Maranatha.
    The trouble in Malawi is that everything is translated into tribalism, even court rulings. Kamuzu, Tembo and all the others have inculcated a spirit of hatred and oppression against people who belong to ‘inferior’ tribes, and they are the scapegoats in everything in Malawi. They are denied jobs, they have been imprisoned and detained wily-nily in the past, their property confiscated, etc., etc.
    The struggle for Independence involved especially the unwanted minority tribes since they were more enlightened about what was happening politically. It is true that minorities are hated, especially people from the North, and they are labeled ‘Tumbuka’ whether they are Tumbukas or not. A dog that is beaten constantly for no reason will some day bite even the owner. Do not think it is fun to be antagonizing innocent people for no reason. One day they will hit back and it will be very painful. Take heed.

  24. Sam says:

    We can sue you for saying tumbuka, kodi zosakhana ntundu zilizonse?

  25. Sam says:

    fdh use a mafia type of stilling people’s property at reposition

  26. Greencardless Malawian says:

    This is very bad news for investors who want to come to Malawi and bad for everyone getting a loan from Malawi banks as interest rates will remain high to match the risk of lending.

    This Judge is not new with his funny verdicts.

  27. Sam says:

    That’s a drop of the money government through tax payers money gave to FDH through the MSB

  28. ndebvuzamwayi says:

    Take this case to Ngolongoliwa Mtengowosema Court for fair trial.

  29. Palibe zachinyengo apa chilungamo chaoneka….Maranatha woyeeeee……..ana a school anjoye bas…..muzichenjela…..you need to follow the rules of loans. ….kuononga business yawina ndi smoke. ….kkkkk

  30. Central says:

    Kulira kwa a Malawi pa ndalama zao za MSB sikungapite pachabe!! Lets wait and see…………….!! Zithera milandu ndalama zimenezo…………!!

  31. Phiri wa Phiri says:

    Our Judiciary is a disgrace so to speak. We tend to wonder as to how these other rulings are effected. Somebody borrows money and then fails to pay back, his or her collateral material is then put on the market so that the bank recovers what it is due to it, the borrower rushes to court and successfully awarded millions of kwa has as compensation for loss of business, Whaw! What about FDH, didn’t it lose huge amounts of money the period Maranatha failed to service the loan? I didn’t do law, but here the truth is just there for all to see. I mean, if truth be told, Justice Kenyatta Nyirenda as a learned Lawyer, he’s supposed to appreciate rules of the game. Every defaulter in every bank loan, their property is ceased and put on the market for sale so as to recover the money. Mind you, this money belongs to people and no Mpinganjira and his employees. In this case I being one of FDH customers, feel cheated bkoz it is my money that was borrowed by Kaonga of Maranatha and instead of paying the money with unterests he’s being another money on top of the money that he’s failing to pay back. I sense something fishy between these two tumbukas-Kaonga and Nyirenda. They are duping the bank on day broad light robbery. I wonder if there are some stakeholders such as the toothless ACB that can look into this awesome ruling. Isn’t it a double blow for us FDH customers? Cry, my beloved Justice System.

  32. Ochewa says:

    Elections Judge don’t get worried,zinalinso chonchi usiku uja lero asayipe.

  33. Sindi says:

    If its Judge Kenyatta, forget about Justice. The Judge has a very clean record of making funny decisions. He doesn’t hesitate receiving bribes as little as K100 000. Actually if you have case and the presiding judge is Kenyatta, it is bad news, very very bad news indeed!!!!!!

  34. CHEWA FEDERAL FRONT says:

    fwe fwe fweee! I want federalism because my region is undeveloped.
    This judge really stupid; “…paid outright” – where does that happen? In impoverished Nyika? Isn’t this idiot the one who rushed through the elections case? He now wants banks to start losing money to criminals? A real brainless judge. Kachasu? Kabanga? Ntonjane? Is he the one who has also awarded billions to the SouthAfrican geologist?
    Tell you what? FDH will have the last laugh and those criminals trying to reap where they haven’t sown are doomed. There is absolutely no way any bank can lose money through incompetent judgments like these.
    fwe fwe fweee! Federalism, fwe. Development doesn’t come on a silver platter; people WORK for it. You wanna have a developed region? WORK for it then!!!

  35. Timbuktu says:

    Atumbuka kufuna kubera Mulomwe tsopano. Maranatha should pay FDH its dues first before FDH pays Maranatha (if any)–Period!. The Judge has colluded with his fellow tumbuka of maranatha to steal from a prominent Lomwe in this case. Tikukuwonanitu!!!!!!!!

  36. Khemuche. says:

    The same court issues an injunction to stop FDH from selling Maranatha land. The same court orders FDH bank to pay Maranatha for selling land which was not sold anyway. Which is which? Why don’t you order Maranatha to pay FDH first? Atumbuka mukufuna mumubere Mulomweyu through kangaroo court eti! Paja anthu inu mulandu mumaweruzira kumowa.

  37. The Analyst says:

    O…………………………………………………………………………………………………………………………………………………………………………………………………………………..O
    When you see the title “judge” accompanied by the name “Kenyatta Nyirenda”, you know that everything about this case is wrong . . .
    . . . This judge has a well-documented record of making strange-bedroom rulings.

    Come to think of it . . .
    . . . for what is Maranatha being compensated in the first place?
    . . . how was FDH initially asked to pay K800mn to Maranatha for a K300mn loan?
    . . . how does the compensation amount jump from K800mn to K400mn?
    So the Judge thinks that FDH will be happier hence more willing to pay K400mn than the K800mn – This is outright thievery!

    Mukamamva kuti anthu apangana ziwembu nkhani zake zimakhala zoterezi.
    ………………………………………………………………………………………………………………………………………………………………………………………………………………………..
    It seems this judge has overstayed in the system and thinks he is the system itself.
    . . . There are more reasons than less; to believe that this judge is corrupt to the bone marrow; and that the money, once given; will be shared!
    . . . This can be seen or read from such statements as “50% should be paid outrightly as you prepare for an appeal.” The judge just cant wait to have his share!

    An unjust justice system, is bad for investment – domestic or foreign! And this judge is so unjust; thus a bad apple in the system.
    O…………………………………………………………………………………………………………………………………………………………………………………………………………………….O

  38. Chafwakale says:

    Who is supposed to pay Who? I get a loan from the bank, i fail to pay back the loan, i then sue the bank to give me 392 mita, the court says yes, give him compensation, who will pay back the loan then? And you call this justice.

    1. peter says:

      A shameful justice system!

  39. Zozwizitsa says:

    Something wrong with some judges in Malawi.

  40. Greencardless Malawian says:

    UKABA SIKUCHEDWA KUKUCHELA. AKAPHYALA AKUMANAPO APA

  41. Nchanga wa ntchenga says:

    Zalowa chinyengo

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