Stanbic Appeals In K190 Million Matter

Stanbic Appeals In K190 Million Matter.

STANBIC Zambia has asked the full bench of the Court of Appeal to grant it leave to appeal out of time an order of the High Court, which granted damages amounting to K192, 500, 000 for loss of business to Savenda Management Service Limited.

When the case came up before Court of Appeal judges Mubanga Kondola and Catherine Makungu led by court president Fulgence Chisanga, Stanbic advocates asked the court to allow the appeal out of time in the interest of justice.

In this case, High Court Judge Justin Chashi in a judgment of August 17, this year, had awarded damages to Savenda Management Services Limited after he established the firm had proven its case on balance of probability.

Mr Justice Chashi further ordered that Savenda Management Limited be de- listed from the Credit Reference Agency.

The lawyers representing Stanbic Bank Zambia submitted to the Court of Appeal to grant the bank leave to appeal as it had prospects of success.

They contended that the delay to lodge the appeal was because the High Court rendered a ruling on an application for leave to appeal after the expiry of the 30 days period in which Stanbic Bank could lodge its appeal.

According to an affidavit in support of notice of application for leave to lodge appeal, it was contended that the matter should be allowed to be heard on its merits as the delay was not deliberate or inordinate.

The bank also contended through its lawyers that Savenda Management Services Limited misinterpreted that the High Court ordered for the payment of K192,500,000 and that this can only be interrogated in an appeal.

But Savenda Management Services Limited’s lawyers argued in an affidavit in opposition that the judgment of the court was not misinterpreted and that there is application before any court to interpret it.

It was submitted that the bank had voluntarily agreed after discussions following the High Court judgment to pay Savenda Management Services Limited five per cent of the K192,500,000 being the liquidated judgment sum.

It was further submitted that there was no delay by the Court below to hear and determine the initial application for leave to appeal and that the reasons currently advanced before the full bench of the court of appeal were not raised before the court below or the single judge of the court.

It was also contended that the reasons advanced by lawyers representing Stanbic Bank were not sufficient enough to warrant the court of appeal exercise its discretion in granting leave to appeal out of time because the reasons were incompetent.

Mrs Justice Chisanga reserved ruling in the case to next month.

 

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