Judge­ment re­served in Port­land Ce­ment dis­pute

Daily Nation Newspaper - - HOME NEWS -

THE Court of Ap­peal has re­served judge­ment in the dis­pute be­tween for­mer Fi­nance Bank owner Ra­jan Mah­tani and the Ven­triglia fam­ily over own­er­ship and share­hold­ing in Zam­bezi Port­land Ce­ment (ZPC). In May, High Court judge Sun­day Nkonde de­clared Ital Ter­razzo Lim­ited, a pri­vate com­pany owed by An­to­nio Ven­triglia and Manuela Ven­triglia as the only share­hold­ers of ZPC and not Dr Mah­tani. This was a bat­tle over shares and man­age­ment of ZPC of which Dr Mah­tani’s firm Fens­bury In­vest­ment Lim­ited and Ital Ter­razzo Lim­ited, a com­pany owned by the Ven­triglias, both made claims of own­er­ship. Dr Mah­tani was dis­sat­is­fied with the High Court ver­dict and ap­pealed to the Court of Ap­peal ar­gu­ing through State Coun­sel John Sangwa that the court be­low mis­di­rected it­self by con­sid­er­ing the Ven­triglia’s claims when nei­ther Ital Ter­razzo Lim­ited nor ZPC were par­ties to the pro­ceed­ings.

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