Court Freezes Part of DMC’s Assets


Court Freezes Part of DMC’s Assets

State owned Commercial Bank of Ethiopia’s attempt to recover over 20 million Br in loans from

construction firm

A presiding judge at the Federal High Court, Ninth Civil Bench, has frozen part of the assets owned by DMC Construction, following an appeal made by lawyers of the state-owned Commercial Bank of Ethiopia (CBE).

Judge Bisrat Tehilku ruled on July 6, 2011, that three trucks and a plot in Lafto District, both registered under DMC Construction Plc, and three Toyota vehicles owned by the construction firm, were frozen, not to be transferred to third parties until the court pronounced a verdict on the litigation.

via Addis Fortune 

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