{"id":70246,"date":"2018-10-11T12:57:10","date_gmt":"2018-10-11T10:57:10","guid":{"rendered":"http:\/\/www.times.mw\/?p=70246"},"modified":"2018-10-11T12:57:10","modified_gmt":"2018-10-11T10:57:10","slug":"admarc-banks-on-mediation","status":"publish","type":"post","link":"https:\/\/archive.times.mw\/index.php\/2018\/10\/11\/admarc-banks-on-mediation\/","title":{"rendered":"Admarc banks on mediation"},"content":{"rendered":"<p><strong><em>By Audrey Kapalamula: <\/em><\/strong><\/p>\n<p><a href=\"http:\/\/www.times.mw\/wp-content\/uploads\/2017\/03\/Admarc.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignleft size-medium wp-image-42787\" src=\"http:\/\/www.times.mw\/wp-content\/uploads\/2017\/03\/Admarc-300x161.jpg\" alt=\"\" width=\"300\" height=\"161\" srcset=\"https:\/\/archive.times.mw\/wp-content\/uploads\/2017\/03\/Admarc-300x161.jpg 300w, https:\/\/archive.times.mw\/wp-content\/uploads\/2017\/03\/Admarc.jpg 610w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a>Agricultural Development and Marketing Corporation (Admarc) has expressed optimism that its outstanding matter with Malawi Energy Regulatory Authority (Mera) over the settlement of K850 million from a procurement maize deal could be resolved through court mediation.<\/p>\n<p>Admarc\u2019s non-committal to respond to Mera\u2019s demand notice on the matter forced Mera to seek court intervention.<\/p>\n<p>Admarc Board Chairperson, James Masumbu, Wednesday confirmed receiving court summons over the matter.<\/p>\n<blockquote><p><em>\u201cI am aware that they have taken us to court. There is a court document. We have been served with a document and I think what is remaining is for the parties to sit down. I am sure they would be invited for mediation at the commercial court and the matter could be resolved at the court,\u201d<\/em> he said.<\/p><\/blockquote>\n<p>This is part of the K2.9 billion from the Price Stabilisation Fund which Mera used to buy 10,000 metric tonnes of <a href=\"https:\/\/www.times.mw\/maize-prices-rocket-by-40\/\">maize<\/a> for Admarc in 2016.<\/p>\n<p>The two parties agreed that Admarc would repay the money from maize proceeds.<\/p>\n<p>But Mera discovered that the grain trader could only repay K1.1 billion from the maize proceeds and managed to settle K250 million in June 2017.<\/p>\n<p>Mera is yet to comment on the court matter.<\/p>\n<p>But Mera Consumer Affairs and Public Relations Manager, Fitina Khonje, recently told <em>the Daily Times <\/em>that they took Admarc to court because it failed to respond to the demand notice.<\/p>\n<p>Khonje said Admarc\u2019s failure to settle the balance has affected operations of the fund.<\/p>\n<p>The release of the funds led to the firing of the then Mera chief executive officer Ralph Kamoto.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Audrey Kapalamula: Agricultural Development and Marketing Corporation (Admarc) has expressed optimism that its outstanding matter with Malawi Energy Regulatory Authority (Mera) over the settlement of K850 million from a procurement maize deal could be resolved through court mediation. Admarc\u2019s non-committal to respond to Mera\u2019s demand notice on the matter forced Mera to seek court [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":70250,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-70246","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/posts\/70246","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/comments?post=70246"}],"version-history":[{"count":1,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/posts\/70246\/revisions"}],"predecessor-version":[{"id":70251,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/posts\/70246\/revisions\/70251"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/media\/70250"}],"wp:attachment":[{"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/media?parent=70246"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/categories?post=70246"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/tags?post=70246"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}