Zimbabwe: Tobacco Auction Broke

(allAfrica.com) CREDITORS of the Zimbabwe Tobacco Auction Centre, under provisional liquidation, are likely to lose out as the firm's liabilities far outweigh its assets.
The High Court appointed Mr Oliver Masomera of Obram Trust Company as the provisional liquidator of Onclass Invest-ments, trading as Zitac and Thirdline Trading, the major shareholder of the collapsed tobacco auction floor.
Indications are that the assets realised so far may not exceed US$300 000 while the claims are close to US$5 million. Continued