Coca-Cola sues Matero trader for K12 million over unpaid debt

Coca-Cola Beverages Zambia Limited is suing a Matero-based trader, and seeking over K12 million in unpaid debt.

Brian Chanda, trading as Matero Best Seller, reportedly had an agreement with Coca-Cola to purchase products such as Fanta, Coke, and Sprite for resale.

The company is said to have delivered the products, and Chanda signed tax invoices as confirmation.

Despite agreed payment terms ranging between 14 days, 30 days, or upon delivery, Chanda reportedly defaulted on payments.

By September 27, 2023, he had accumulated a debt of K12,272,980.74.

In an effort to settle the debt, the two parties reportedly signed a Memorandum of Understanding (MOU) on September 28, 2023, which outlined a payment plan of monthly installments of K200,000.

However, Coca-Cola alleged that Chanda failed to pay any installments.

After issuing a letter of demand with no response, Coca-Cola is now suing for the K12,272,980.74, along with damages for breach of contract, interest, and legal costs.

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