Fees dispute stalls KBAL liquidation

A dispute between Kingdom Bank Africa Limited (KBAL) creditors and former liquidator, Deloitte over payment of fees for services rendered has stalled the liquidation process of the defunct bank.

Deloitte’s Max Marinelli resigned as the liquidator of KBAL in March this year after falling out with the creditors, but has now declined to hand over the case to the new liquidator, John Little, before he is paid.

On Wednesday, director of tax services at Deloitte, Terry Brick told BusinessWeek that the creditors have declined to pay Delloite for the services rendered since June last year when they were appointed the liquidators.

Editor's Comment
Human rights are sacred

It highlights the need to protect rights such as access to clean water, education, healthcare and freedom of expression.President Duma Boko, rightly honours past interventions from securing a dignified burial for Gaoberekwe Pitseng in the CKGR to promoting linguistic inclusion. Yet, they also expose a critical truth, that a nation cannot sustainably protect its people through ad hoc acts of compassion alone.It is time for both government and the...

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