Businessman sues Investrust over seizure of goods

A CHOMA businessman has dragged Investrust Bank PLC to court over the wrongful seizure of various goods and a motor vehicle, all valued at over K900,000. According to a statement of claim filed in the Lusaka High Court recently, Kebby Zulu stated that on June 28, 2018, he obtained a loan facility of K400,000 from the said bank and offered stand No.5021 as collateral for the said sum. Zulu stated that when he defaulted on the loan repayment, the bank exercised its rights of foreclosure and took possession of the said property. He explained that the said property housed his storeroom and garage which contained the items: 876 new lasher valued at K105,120; 513 new iron sheets valued at K48,735;…...