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Press Corp Challenges 7B Kwacha Debt Order | Malawi News
Press Corporation is battling a seven-billion-kwacha court order tied to the collapse of its old subsidiary, People’s Trading Centre, with the case now heading to the Malawi Supreme Court of Appeal. The High Court previously ruled that Press Corp must pay 70% of legal costs and shoulder responsibility for PTC’s insolvency — a decision challenged on both legal and factual grounds. Despite transferring PTC to South African buyer Tafika Holdings in 2022, the court dismissed Tafika’s restructuring attempt. Press Corp argues the ruling misapplied the Insolvency Act and ignored creditor legitimacy…
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