NMB sues Lobels Bread

Financially troubled Lobels Bread has been sued for $4,1 million by NMB Bank after it failed to service a loan forwarded by the financial institution.

According to summons issued last month, the plaintiff (NMB Bank) lent and advanced to the first defendant (Lobels Bread) a loan, in terms of credit facility agreements executed at varying times and in varying amounts in the total sum of $4 360 000.

David Chiweza, Livingstone Gwata, Burombo Mudumo and Herbert Nkala are cited as second, third, fourth and fifth respondents as they bound themselves as surety and co-principal debtors with the first defendant for and in respect of first defendant’s aforesaid liability.

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