Last year, the Court of Appeal had ruled in favour of Stanbic Bank Zambia in a long-running dispute with a defaulting borrower Savenda, that sued the bank claiming K192.5 million in damages for loss of business as a result of being registered as a bad debtor with the Credit Reference Bureau.
In this matter, Savenda had sued Stanbic Zambia claiming damages for loss of business of K192.5 million as a result of being recorded in the Credit Reference Bureau.
But in the a letter dated June 11, addressed to the lawyers that represented Savenda, namely: Willa Mutofwe and Associates, Andrew Musukwa and Co, Kapungwe Nchito Legal Practitioners and Messrs Mutemwa of Mutemwa Chambers, Eric Silwamba, Jalasi and Linyama legal practitioners have claimed a bill of costs totaling K10,154,887.05.
“The total tax claimed is the sum of K10,154,887.05. We shall serve you with the Notice of Taxation once the same has been uplifted from the respective registries,” read the letter.
The lawyers are demanding for K7,047,064 for services during the full trial in the High Court, K1,868,833 for services during appeal hearing in the Court of Appeal and K1,238,988 for services during the last appeal in the Supreme Court.