Am Weinberg owner to oppose liquidation

Am Weinberg Boutique Hotel owes Bank Windhoek N$6.2 million.

27 October 2020 | Business

OGONE TLHAGE - Property owner Archie Graham is opposing the liquidation of the Am Weinberg Boutique Hotel and various other businesses owned by him.

Bank Windhoek recently applied for the liquidation of the hotel and 12 other businesses associated to Graham.

Graham, through his lawyer Danielle Lubbe Attorneys, filed a relief claim, opposing the bank’s intended action.

The relief claim opposes Bank Windhoek’s intent to manage businesses associated to Graham.

The claim also states that Bank Windhoek has no authority to manage or sell any of the plaintiff’s properties.

Graham also opposes the collection of rent by Bank Windhoek through its appointed agent, Joseph & Snyman.

Graham is also demanding that Bank Windhoek pay his legal costs related to the bank’s applications for liquidation orders.

PROVISIONAL LIQUIDATION

The hotel and Graham’s 12 other businesses have been placed in provisional liquidation.

The hotel owes the bank N$6.2 million. The bank also says the 12 close corporations owe it amounts ranging between N$6.2 million and N$15.5 million, and are similarly unable to pay their debts.

Graham had also changed the name of his company, Jimmy Construction, to Green Property One Hundred and One and later sought to have it liquidated, all without informing Bank Windhoek.

In terms of a refinancing agreement between Graham and Bank Windhoek, the bank had received a N$100 million offer for the hotel but Graham had refused to sign off.

Graham has blamed the state of the economy for his financial problems.

Similar News

 

COMPANY NEWS IN BRIEF

10 hours ago | Business

Exxon and Total in talks ExxonMobil and Total are in negotiations over their massive LNG projects in Mozambique, with each seeking to extract more gas...

Election campaigns boost business

1 day - 26 November 2020 | Business

Ndalimpinga Iita - At his business premises in the northern part of Namibia, entrepreneur John David handles various branded promotional items including T-shirts, caps and...

Construction takes plight to MPs

2 days ago - 24 November 2020 | Business

The Construction Industries Federation of Namibia (CIF) recently hosted a series of five business breakfast briefings for members of parliament (MPs). In total, 45 members...

Medical aid shows Covid symptoms

3 days ago - 24 November 2020 | Business

The average claims per medical aid fund beneficiary in Namibia in the first three months of this year was nearly 28% more than in the...

Oshikuku entrepreneur launches biogas production

3 days ago - 24 November 2020 | Business

Parliamentarian, Modestus Amutse launched the Thikamapo Biogas Farming, a small-scale renewable energy entrepreneurial project that aims at driving Namibia to self-reliance in energy production at...

Black Friday madness continues

3 days ago - 24 November 2020 | Business

Julienne van Rooyen - Black Friday is just a few days away, and this year we can probably predict that there will be stricter measures...

COMPANY NEWS IN BRIEF

3 days ago - 24 November 2020 | Business

Prosus' HY earnings surge 29%Technology investment company Prosus NV said yesterday core earnings for the six months ended Sept. 30 surged 29% to US$2.2 billion,...

Company news in brief

3 days ago - 24 November 2020 | Business

Prosus' HY earnings surge 29%Technology investment company Prosus NV said yesterday core earnings for the six months ended Sept. 30 surged 29% to US$2.2 billion,...

Half-a-billion SME loan scheme launched

4 days ago - 23 November 2020 | Business

PHILLEPUS UUSIKU – Government, in partnership with four participating commercial banking institutions and with the financial support of the Bank of Namibia (BoN), on Friday...

Namfisa silent on Covid-19 claims

4 days ago - 23 November 2020 | Business

Jo-Maré Duddy – The Namibia Financial Institutions Supervisory Authority (Namfisa) has for more than two months refused to provide any information on insurance claims of...

Latest News

Kenya's economic growth to rebound...

10 hours ago | Economics

Duncan MiririKenya's economic growth is expected to bounce back next year, the World Bank said on Wednesday, as it emerges from a projected decline in...

Man kills, buries his partner

10 hours ago | Crime

TUYEIMO HAIDULAOKATANAA 36-year-old man has been arrested in connection with a body discovered on Wednesday at Omayanga village in the Okatana Constituency, Oshana Region. The...

Swapo holds on by fingernails

10 hours ago | Politics

TOIVO NDJEBELAWINDHOEKSwapo continued from where it left off with its downward spiral in last year's election by having its hold onto key constituencies and local...

Iipinge taps out

10 hours ago | Politics

JEMIMA BEUKESWINDHOEKOutgoing Walvis Bay Urban constituency councillor Knowledge Iipinge, who has conceded to Independent Patriots for Change (IPC) candidate Florian Donatus Tegako, says his work...

Nigerians to slide into further...

10 hours ago | Economics

Camille Malplat and Louise Dewast More than 200 million Nigerians will slide further into poverty as the coronavirus pandemic has sent oil prices tumbling and...

Hit the ground running

10 hours ago | Opinion

At the time of penning this down yesterday, the tabulation of election results was still under way. It didn’t look like a good day at...

Auto Sueco gunning the future...

10 hours ago | Politics

OGONE TLHAGEwindhoekFrom its humble beginnings in 2004, Auto Sueco Namibia is now a reckoned force in the Extra heavy and heavy commercial vehicle market with...

Ivory Coast raises 1 billion...

10 hours ago | Economics

Ivory Coast's Eurobond sale this week, sub-Saharan Africa's first of the pandemic era, raised 1 billion euros (US$1.19 billion) and was five times oversubscribed, the...

Open defecation remains a problem

10 hours ago | Health

ELLANIE SMITWINDHOEKIt is estimated that 14% of Namibians living in urban areas practise open defecation, while 77% of people living in rural areas do the...

Load More