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Supreme Court orders for re-evaluation of Mulli properties

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The supreme court of appeal sitting in Blantyre has vacated an injunction obtained by Mulli Brothers Limited stopping Malawi Savings Bank from selling its properties.

However, the court has restrained the bank from selling Mulli properties in its bid aimed at recovering a three point three billion kwacha loan the company obtained from the bank.

Instead, the court has directed that both parties must together do a re-evaluation of the properties put on sale.

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Justice Dustain Mwaungulu has since ordered both parties to appear in court with their findings on June 18.

According to Judiciary spokesperson Mlenga Mvula, the judge will use his discretion on the way forward depending on the findings both parties will present in the court.

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