Registrar moves to reverse Amaryllis agreement

The Registrar of Financial Institutions has begun legal proceedings against trustees of the Public Service Pension Trust Fund at the High Court of Malawi over the controversial acquisition of Amaryllis Hotel in Blantyre.

The registrar, who is also the Reserve Bank of Malawi (RBM) governor, has obtained a mandatory injunction requiring the trustees to rescind the hotel acquisition contract and recover all paid funds.

The High Court Commercial Division Lilongwe Registry has also granted an order allowing summons to be served on the 12 trustees by publishing notice in the newspapers.

Wants deal cancelled:

Partridge. | Nation

The matter is registered as Commercial Case Number 250 of 2026—The Registrar of Financial Institutions and Chizaso Eric Nyirongo, who served as the board’s chairperson at the time of the transaction, and 11 others.

The trustees have 30 days to collect the summons or risk being held in contempt of court.

According to the notice published in The Nation yesterday, the registrar obtained the injunction on August 10 2026 that is also seeking compliance with an administrative penalty issued on May 4 2026.

When asked if he had seen the notice and what the next steps would be, Nyirongo, who is a qualified lawyer, said he had not seen it.

“You say you have seen it somewhere, I have not seen it. I will not be able to comment on what I have not seen,” he said in a telephone interview yesterday.

In March 2026, RBM Governor George Partridge said the trustees were yet to pay K40 million in fines to the RBM in relation to the hotel acquisition.

The penalties followed the trustees’ failure to submit the sale agreement documentation within required timeframes.

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