Kingdom Bank liquidation hits snag
Friday, November 13, 2015
Marinelli wants to do his job without creditors micro managing him
In a seven-hour long heated meeting in which BusinessWeek played fly on the wall, creditors refused to adopt resolutions that would have authorised Marinelli to execute the liquidation, beginning with the sale of the KBAL headquarters in Gaborone.
According to the Company’s Act, a liquidator is only empowered to execute his duties by a set of resolutions adopted from a full creditors’ meeting.
As the Botswana National Front (BNF) discusses a policy to place suitably qualified members in strategic positions, the guiding consideration should remain whether an individual is the best person to serve the country. There is nothing wrong with qualified party members applying for public positions. Political affiliation should neither disqualify a capable candidate nor give them an advantage over others. Every Motswana deserves a fair...