Malawi Govt to Fight K300bn Finance Bank Payout As Mbeta Calls It Excessive

Malawi Govt to Fight K300bn Finance Bank Payout As Mbeta Calls It Excessive

Malawi's government is preparing a fresh legal challenge against a court-awarded K300 billion compensation package to the defunct Finance Bank Malawi (FBM), arguing that the sum is disproportionate to the circumstances of the case and places a substantial burden on the public purse.

Tycoon Rajan Mahtani's bank wins $173m as Malawi vows appeal

Zambian tycoon Rajan Mahtani's bank has been awarded $173 million for its 2005 shutdown by Malawi's central bank. The government says it will appeal.

Govt to appeal K300bn Finance Bank award

Attorney General Frank Mbeta says the Malawi Government will challenge the “excessive” K300 billion compensation award to the defunct Finance Bank Malawi (FBM). The government’s chief legal adviser said in an interview yesterday that having reviewed the court order, his conclusion is that it should be challenged before a full bench of the Malawi Supreme …