Update: The High Court of Malawi has dismissed an urgent application by Yusuf Investments Limited, the company behind the Amaryllis Hotel, seeking to unfreeze bank accounts restricted under the Financial Crimes Act and the Corrupt Practices Act. According to Nyasa Times, Justice Redson Kapindu rejected the bid on April 3, citing fundamental procedural flaws in how the company initiated the case.
The accounts were previously frozen by the Financial Intelligence Authority and the Anti-Corruption Bureau amid an investigation into the K128.75 billion sale of the hotel to the Public Service Pension Trust Fund. Justice Kapindu stated that the company's legal approach was defective because it filed a specially endorsed summons accompanied by a separate statement of case, which violates established Malawian court procedures. The judge noted that the process used was irregular, ultimately shutting the door on the company's application and leaving the corruption-related financial restrictions in place.