The Supreme Court has referred the matter in which the Post Newspapers, JCN Holdings, Mutembo Nchito, Nchima Nchito and Fred Mmembe challenged a High Court Judgement asking them to pay back K 14 billion to the Development Bank of Zambia (DBZ) back to the High Court. In short the Supreme Court has called for a retrial. Lusaka High Court Judge Nigel Mutuna had rule in the high court that JCN Holdings, Post Newspapers and its directors pay back the money to DBZ. Judge Mutuna also ruled that the directors were criminally liable because they knew that that Zambian Airways the company they were borrowing for was going under. Instead of paying back, the Nchitos and Mmembe convinced President Sata to appoint a tribunal headed by a Malawian Judge to investigate Nigel Mutuna while at the same time lodged an appeal. The Malawian Judge Chikopa is still in Zambia lodging at Mulungushi Village and is paid close to K 50,000 per month tax payers money.
Supreme court refers 14 billion dbz matter back to high court
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