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
Batswana need to do better to stop FMD

It is a clear signal that the government’s purse is empty and that our own behaviour has left veterinary officials fighting with one hand tied behind their backs. We have been here before. During COVID-19, many of us thought we knew better. We ignored simple rules, we carried on as if the danger was someone else’s problem, and the virus took lives and left our economy on its knees. We are still broke from that experience. Yet now, with FMD...

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