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Mazhandu Family Bus Services Sued Over K23 Million Loan

Pan-African Building Society has sued Mazhandu Family Bus Services Limited demanding payment of over K23 million and possession of all leased vehicles.

According to originating summons filed in the Lusaka High Court, it is contended that the public transport service company owes Pan-African Building Society K23,445,218.

The financial institution wants the court to order the termination of a loan facility and the sale and lease-back facility which was granted to Mazhandu Family Bus Services Limited.

Mazhandu Bus Services has struggled to find its feat after its fleet was involved in a spate of accidents leading to the withdrawal of its trading licence.

3 Comments

  1. koswe

    give them another loan to buy more buses.

  2. mulase

    No wonder ba PABS bali broka.I have to close my Acc.this week.

  3. Albert Mungwenji

    Government should give trading licence back to the company for it to settle the debt

Comments are closed.