Paid witness claims Katotobwe bought Ultimate Insurance company

Paid witness claims  Katotobwe bought Ultimate Insurance company

KATOTOBWES BOUGHT ULTIMATE INSURANCE, WITNESS TELLS HIGH COURT

***But as this document shows, this witness is receiving money from Katotobwe.

Lusaka-13th October 2020

A witness has testified in the Lusaka High Court that Ultimate Insurance Company was bought by Mr. Chanda Katotobwe and his wife, Felicitus Kabwe Chibamba.

Mr Justin Phiri, in the photo, testified Tuesday afternoon before Judge Kazembe Chenda that as owners of the company they sold Ultimate Insurance Ltd to the Katotobwes who paid the full purchase price of K1.5m.

He said this payment was made to Klein Syampongo, Justin Phiri and Maybin Silavwe as former owners and shareholders.

He stated that the previous owners have never recieved any form of payment or instruction from a company called Marshlands or its directors: Tobias Milambo, Richard Lubemba and Nachi Musonda.

This is a matter in which Chanda Katotobwe and Felistus Kabwe Chibamba have sued in the High Court for damages and restitution of their company, Ultimate Insurance Company Limited.

But remember that, as this high court case is going on, the directors of Marshlands Company are detained at Kamwala remand prison. They are not there to defend themselves. Why? Is that the main reason for chaining them?

The directors of Marshland are not in court to question Justine Phiri. They are in jail. Is this how things are done in Zambia now? Can’t the courts see that they are bring used here?

Look at the documents here from Katotobwe’s company, Tomorrow Investment. Katotobwe is paying Justine Phiri K200, 000, For what? The reason given is loan repayment. But according to Justine Phiri, he was paid millions by Katotobwe’s for buying his company. How possible is that while paying millions to Justine Phiri, Katotobwe was also borrowing K200, 000 from Justine Phiri?
Justine Phiri should just admit that he is being paid by Katotobwe to tell lies.

And is this Justine Phiri really a credible person who the court can believe?

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    If the company was bought from former owners, a receipt ought to exist to evidence payment of money. Property transfer tax was paid to ZRA, a contract of sale ought to hv been drawn specifying what was being sold, who was buying and at what price.