Sherrifs seize FDH Bank properties over Maranatha Academy case

The  Sheriffs from the High Court of Malawi on Tuesday stormed  FDH Bank Headquarters  in Umoyo Building in the commercial city of Blantyre to execute a warrant if seizure of some properties to enforce judgement of  liability in which Maranatha Girls Academy were awarded K785 million.

FDH Bank

FDH Bank

Sherrffs visit FDH bank with seizure warrant

Sherrffs visit FDH bank with seizure warrant

FDH bank confirmed that the sheriffs seized 5 computers and 1 printer.

Business at the bank was on standstill when sheriffs visited but judiciary spokesman Mlenga Mvula said FDH later prepared a payment through the court.

However, FDH bank in a statement made available to Nyasa Times  issued by Sobhuza Ngwenya the Head of Marketing explained that  Maranatha Girls Academy was a customer of FDH Bank who owes the Bank money and  that while FDH Bank was in the process of recovering the owed money, Maranatha went to court to frustrate the bank’s efforts.

“FDH Bank Limited is surprised with the way that the Sheriffs executed this judgment because FDH Bank lawyers received the judgment on the afternoon of 4th April 2016. They gave the judgment to FDH Bank in the morning of 5th April 2016 at around 09h.00

“FDH Bank lawyers immediately tried to get a stay order on the judgment on the same afternoon 4th April 2016 so that an appeal can be filed with the Court. The court instead ordered to hear the stay order arguments at 13h30 on Tuesday 5th April 2016. While FDH was waiting for this process, within one hour of receiving the copy of the judgment, the sheriffs had come at around 10h30 to seize properties,” the statement said.

It added that FDH Bank immediately prepared the required payment.

“When FDH wanted to deliver the payment, the people who seized the properties for FDH were nowhere to be seen.

“FDH Bank is surprised by the conduct of the whole matter, especially noting that the Bank was not allowed time to look at the judgment and make appropriate decision before the sheriffs could seize its property, all in a period of less than 24 hours.”

The statement pointed out that that Maranatha Girls academy owes FDH Bank MK281, 820,906.47.

“This amount has been outstanding for several years and FDH has been trying to recover this money by selling the collateral that was given as security for this loan. However, when FDH advertised the property for sale, Maranatha Girls academy is claiming that the advertisement resulted in the loss of business. This was the basis for the claim under which the whole of this matter is based,” the statement said.

Meanwhile FDH Bank said it cannot recover the debt “because the Court stopped this process through an injunction that has yet to be lifted.”

The court returned all seized items to the bank on Tuesday afternoon.

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nkhanga zaona
Guest
nkhanga zaona
5 months 22 days ago

Kuoneka wang ono mumaonela Chiani kodi hifukwa wina amaoneka wachichepela chifukwa cha dola,komaso thanzi muzaziona nanu mukazakhalako, pachinyezi poor bastardi .dont be joulosy nsiyeni katundu wanzanu azinjoya tiyeni tikambe za Fdh ndi MA sheriff

Dumbo Lemani
Guest
Dumbo Lemani
5 months 23 days ago

Mpinganjira has employed mapaudala to work as debt collectors. Where were they? They would have manhandled there equals and we would Av seen who is paudala enough.

Jack
Guest
Jack
5 months 23 days ago

Let arguments be based on substantial facts.
The banks are never legally defenceless.
Let them operate not as one does based on prejudice or personal hatred or jealousy. Chili kwa mzako

Ndudza
Guest
Ndudza
5 months 23 days ago
So you mean a court should operate based on common belief that a bank can not owe someone some money? Do you understand how banks amass wealth? They are very well protected legally. They have almost most well paid lawyers to defend them legally not that we should go by beliefs. You can’t say the judicial systems is shameful because the ruling is to your dislike. When shall poor Malawians appreciate the bank loan facilities at their disposal? We can’t just believe that no one can win a case against a bank because you believe so. Please a stronger argument… Read more »
Ngongoliwa
Guest
Ngongoliwa
5 months 23 days ago

Kaonga ameneyo. Kaongaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaa. Ma Judge onse ma Sherriff ali pa Payroll yake.

Zuze
Guest
Zuze
5 months 23 days ago

Conman super. K40 million ya Judge! This is Malawi.

wabonza
Guest
wabonza
5 months 23 days ago

NO SYMPATHY FOR MPINGANJIRA AMAZIONA NGATI DOLO .He is ruthless ,heartless , he has grabbed many peoples property without any chikumbumtima Your day has come umati utani iweyo , unachenjera pogona anzako achenjera podzuka .

No need for Name
Guest
No need for Name
5 months 23 days ago

Izizi ndi chimodzi modzi munthu kuberedwa ndi akuba kunyumba and then later woberedwawe kumulipira ndalama zambiri wakubayo. Where is justice in this country?????

johni
Guest
johni
5 months 23 days ago

I was shocked to meet this Kaonga guy with a young pregnant girl, the age of her daughter, but this one was his wife. She is obviously underage. Atsikana otsusuka kuthamangira utsi kusiya moto. I suspect he grabbed her from one of his schools. Too bad

Lordship Phiri
Guest
Lordship Phiri
5 months 23 days ago
MALAWIANS IF THERE ARE FOOLS IN THIS WORLD ITS THE LEGAL PRACTITIONERS. I REGRET TO HAVE JOINED THEM BECAUSE I LOST MY REASONING CAPACITY, SENSE OF HUMOUR, ANALYTICAL SKILLS AND RESPECT FOR HUMAN VALUE FOR UNDERPRIVILEDGED. LOOK AT THIS CASE, REALISTICALLY WHO WAS SUPPOSED TO OWE WHO ??? LOOK AT HOW WE PRACTITIONERS MANAGE ELECTIONS, HANDLE ELECTION CASES, ISSUE INJUCTIONS EVEN AT MID NIGHT ON A SUNDAY, ORDER FOREIGNERS TO GET BILLIONS ON MINING CASE, SEE HOW WE LEAD10002113260. National bank, zomba service centre A COUNTRY OR A MINISTRY IF WE ARE ASSIGNED TO, WE NEVER TAKE REGARD TO CRITICAL… Read more »
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