Tannery liquidators in legal hot soup

Mothobi
Mothobi

Liquidators and creditors of the failed Tannery Industries Botswana (TIB), clashed in the Gaborone High Court last week, amidst revelations that the once promising business is facing criminal charges related to the recovery of funds by creditors.

During the clash, the liquidators’, Munyaka Makuyana and Raja Gopal, who are attorneys, successfully convinced Justice Michael Mothobi to stay their prosecution in the matter in which creditors have inspired criminal charges alleging obstruction of judicial execution.The two voluntarily surrendered themselves to Naledi Police Station on March 6 after creditors, led by Southern African Furniture Manufacturers, accused them of obstructing judicial execution.

Documents before the court indicate that a disposal of TIB’s assets in 2013 realised P7.16 million of which P2.5 million was released to Southern African Furniture Manufacturers, which had applied for prioritisation as its own creditors “were beating down the door”.

Editor's Comment
Women unite for progress

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