South Africa Impounds Post trucks

A TEAM of Zambian and South African police officers has impounded five courier trucks in South Africa which belong to The Post Newspaper Limited (in Liquidation).
The trucks were found concealed at Transit Fleet Forwarding Limited premises in Germiston in South Africa during an operation conducted on Thursday to recover the newspaper company’s property.
The Post Newspaper manager for assets recovery and operation  Robert Chabinga, who was part of the operation, said the liquidators are determined to recover all the assets so that the money raised can be paid to creditors.
“Arrangements will be made to take the trucks to Zambia so that they can be sold and the proceeds will be given to the creditors,” he said.
The operation also revealed that some of the trucks have had their labels removed to conceal their identity while others had been driven to an unknown destination.
And Transit Fleet Forwarding Limited chief executive officer Robby Forbes said the trucks have been parked at the premises since July, 2016.
Mr Forbes said the company has secure facilities and ensures that vehicles in transit are safe from intruders.
“Vehicles come and leave as and when they want unless otherwise, there is an instruction not to allow a certain vehicle to move,” he said.
The Post Newspaper Limited has been placed under receivership and the process of placing the newspaper under compulsory liquidation has commenced.
Lawyer Lewis Mosho of Lewis Nathan and Company has been appointed as provisional receiver in respect of all the assets of the company.
This was after former The Post Newspaper employees applied to the court to have the company placed on liquidation to recover their terminal benefits.
Since then, more companies and individuals have come forward claiming money owed to them. The newspaper company also owes Zambia Revenue Authority in excess of K53 million in taxes.
In November, police seized 11 trucks belonging to The Post Newspapers Limited after they were found concealed at Transit Freight Coordinators Limited in Chilanga district.