Sheriffs confiscate Standard Bank’s Mzuzu property

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Sheriffs confiscate Standard Bank’s Mzuzu property
Sheriffs confiscate Standard Bank’s Mzuzu property

Africa-Press – Malawi. Sheriffs in Mzuzu on Friday, July 29, 2022 confiscated property from Standard Bank Mzuzu Branch on instruction from the bank’s customer Cassidy Chalimba.

Chalimba’s lawyer Jiverson Kadzipatike, says his client got about MK24 million loan from the bank which the client failed to service within the agreed time.

Eventually, the bank sold a house belonging to the complainant at a price close to MK50 million but never disclosed the amount to the owner of the house.

According to Kadzipatike the client got wind of the amount and took the matter to court and a seizure and sale order that we have indicates that the case entered default judgment against the bank giving the claimant power to recover MK24,976,277.79 from the bank.

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