In July, Dow made a ruling barring the state from touching Daisy Loo's P24 million. Daisy Loo's judicial manager, John Hinchliffe, has indicated that the company is struggling to pay off creditors and urgently seeks the release of its frozen funds.
In a brief press release, Hinchliffe says that it is unfortunate that further legal action is being required in order to obtain the P24 million, which is frozen in the trust account of Mack Bahuma Attorneys.
He states that it is surprising that the DPP is withholding the funds despite Dow's ruling.
"We are currently preparing an application for a declaratory order for such release," he says, adding that the company's lawyers will serve the DPP next week. He says they are hoping the matter will be heard by the end of next month.
Dow dismissed, with costs, and ruled in favour of Daisy Loo in an application in which the DPP was seeking an order restraining the company from accessing the P24 million awarded by the Appeals Court.
