HIGH COURT JUDGE MANDA RULES IN FAVOR OF THOM MPINGANJIRA
Judge Manda of the High Court has ruled that MCP has no powers to snatch FDH Bank. The ruling comes in the wake of events in Parliament during this sitting where MCP through Parliament wanted to snatch a hard earned bank Mpinganjira has been struggling for.
According to Parliamentary reports, MP for Mzimba East Yeremiah Chihana, complained in Parliament that what MCP was doing was wrong. Chihana cited occasions where the Budget and Finance Committee was gagged in their report preparations and that MCP leadership was pushing a bill to snatch the bank quickly when all along they knew that the matter was in Court pending ruling.
Mpinganjira sought Court intervention after the Reserve Bank suggested that he was no longer eligible to maintain shares in the FDH bank plus that due to his conviction, he is not allowed to have a bank. All the fight was happening when around 2019, Thom Mpinganjira resigned as the Managing Director and Proprietor of the bank.
In a 9th December 2022 ruling, Judge Manda has indicated that Mpinganjira has rights to hold shares in the FDH Bank and that it is wrong for a political Party to push for snatching his bank. Manda has punished the respondent with costs for presenting a useless case against FDH.
