Court varies ACC restriction notice on Mphundu Trust Ltd

THE Lusaka High Court has varied the restriction notice issued on Mphundu Trust Limited by the ACC and has ordered that Thandiwe Banda be allowed to lease out the properties.

The court, however, ordered that the proceeds of the property be deposited in Mphundu Trust Account Number 011001129311 held at Access Bank main branch in Lusaka to enable her to service the loan she owes the bank.

In this matter, Mphundu Trust Limited as the first applicant and Access Bank Zambia Limited as the second applicant took the Anti-Corruption Commission (ACC) to court over the restriction notice that was issued on the property.

Thandiwe was seeking an order to reverse the restriction notice issued on Mphundu dated January 2012 and renewed on October 1, 2012 or alternatively an order that the same notice stopping her from leasing out or advertising for lease and doing all things necessary for the proper management of the property was unreasonable, illegal, void and of no legal effect whatsoever.