Assignment Name:
LIQUIDATION OF UNION BANK

Country: Zambia

Location within Country: Lusaka, Ndola, Kitwe, Kabwe, Livingstone, Kaoma & Mwinilunga

Professional Staff Provided by your Firm/Entity(Profiles): Accountants/Bankers/IT Specialist

Name Of Client: Bank of Zambia No of Staff: 4

Address: P.O. Box 30080. Lusaka

No of Staff months; Duration of Assignment: 4 years

Start Date(Month/Year): June 2003

Completion Date (Month/Year): December. 2007

Approx. Value of Services (in Current US$) USS 350.000

Name of Senior Staff (Project Director/Co-ordinator, Team Leader) involved and functions performed: Chintu Mulendema

The Liquidation Manager was required to perform the following;
• Taking control of all the Bank Assets and Liabilities
• Drawing up a Statement of Affairs for the Bank
• Confirming all Assets and Liabilities
• Disposing Assets (including Loan securities) to pay liabilities • Attendance at meetings of the management team Maintenance of high level contact with senior management of the Bank of Zambia.
Narrative Description of Assignment Chintu Mulendema was detailed to liquidate Bank Assets. Manage the Funds to ensure growth and pay depositors and other Banks which were owed. He was also required to provide monthly reports updating the Central Bank on the Liquidation Process. The Banks Balance Sheet was over K120 billion then.