Court dismisses contempt charges against MSB
The Malawi Supreme Court of Appeal yesterday rejected an application by Mulli Brothers Limited (MBL) to commit to prison Malawi Savings Bank (MSB) chief executive officer Ian Bonongwe and three of his senior managers.
MBL Holdings, through private practice lawyer Chancy Gondwe, had asked the court to commence committal proceedings against Bonongwe, MSB company secretary Videlia Mluwira, head of credit George Sibale and head of corporate banking Ted Chanza for allegedly defying a court order.
Yesterday, the court, presided over by appeal judge Dunstain Mwaungulu, also granted an interim injunction “without notice” to MBL Holdings restraining MSB from advertising or selling the collateral securities MBL Holdings provided.
The order is valid up to June 4 when the court will hear both parties in the matter, according to an order The Nation has seen.
Last week, MSB applied for a vacation of stay order which was granted to MBL Holdings by Supreme Court judge Robert Chinangwa after not being satisfied that a single judge presided over the case.
Thereafter, a Supreme Court of Appeal panel comprising three appeal judges—Maxon Mbendera, Mwaungulu and Frank Kapanda—heard the case on May 18 and is yet to make a ruling.
MBL and MSB have, over the years, been engaged in a dispute over the loan amount and recovery. MSB puts the loan at K4 969 043 316.93.
Our courts seem to have a lot of time on their disposal to handle issues that concern the rich while they do have very little time handling cases involving the poor?
Mulli has to pay the debts. The courts should not shield him. Why wait until June? He borrowed the money a long time ago. Let him take responsibility.