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[Dec 2017] Tadesse Tessema (Eng.) Latest Ethiopian News AddisBiz.com | Ethiopian Business Directory & Portal - Addis Biz

Holland Car PLC finally destined to be auctioned

The Liquidity Supervision Commission of Holland Car Plc. (HC) disclosed that it will float the company for foreclosure in the coming few weeks. The Founder and General Manager of Holland Car, Tadesse Tessema (Eng.), who returned to Ethiopia on May 12 after the government granted him immunity, went back to the Netherlands, but said he will be back within few weeks.

At a press conference held on Friday July 24, the commission recalled that the Federal High Court Lideta Civil Bench had given a green light to foreclose the company to

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Holland Car Owner Tadesse Tessema Back in Ethiopia

The General Manager and founder of Holland Car plc, Tadesse Tessema (Eng.) returned to Ethiopia on Tuesday May 12, evening after almost two years in the Netherlands.

On Wednesday, a day after his arrival, Tadesse told Capital that he is back to his country aiming to revive his business that was declared bankrupt. He said that hopes are seen to re-launch the assembly. However the company is expected to deliver the cars for clients who already paid, if it commences operation.

Sources told Capital that the general manager is

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Holland Car appeals for second chance

Shareholders of the pioneer automobiles assembler in Ethiopia,  Holland Car Plc. (HC),  have submitted a proposal to  an appointed liquidity supervision commission requesting a second chance for the assembler to resume its operation.


The commission that was established under court order to supervise and liquidate the assets of the bankrupt assembler, has received a seven pages proposal on Monday March 16 that detailed measures for a possible recovery.
The two shareholders of Holland Car Plc., Trento BV and

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Court Rejects Zemen Bank’s Request to Foreclose on Holland Car Properties

Zemen Bank Headquarters Kazanchis Office Cassation bench of the Federal Supreme Court has reversed the Federal High Court’s decision for the sale of the bankrupt company, Holland Car’s factory and its machinery to enable Zemen Bank recover its loans worth around 34 million Br on February 23, 2015.

The case was initiated when Zemen Bank asked the First Instance Court to lift the suspension

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