Kingdom Bank liquidator, creditors fall out

Marinelli
Marinelli

A dearth of trust between Kingdom Bank creditors and liquidator, Deloitte’s Max Marinelli has seen the relationship between the two parties irretrievably breaking down leading to the resignation of the later.

A creditors meeting held in Gaborone last week resolved to relieve Marinelli of his duties and proposed to appoint a new liquidator.

Director of tax services at Deloitte, Terry Brick told BusinessWeek their company is no longer handling the liquidation process and will hand over to the proposed new liquidator, Peter Collins, once he has been endorsed.

Editor's Comment
Botswana must not be a flag of convenience for rogues

‘A man’s country is not a certain area of land, of mountains, rivers, and woods, but it is a principle and patriotism is loyalty to that principle’.- George William CurtisAccording to the report carried in this publication, the fraudsters operating the so-called “dark fleet” have selected Botswana’s flag as their cover of choice. This is a direct assault on our country’s most valuable asset, the good name.For decades, Botswana has...

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