News / Local
Delma Lupepe's houses go under the hammer
19 Jul 2013 at 08:45hrs | Views
BULAWAYO mogul Delma Lupepe's three houses will go under the hammer this morning at a local hotel as three financial institutions seek to recover undisclosed monies owed by his firms.
Lupepe's Merspin and Bernard Construction owe Premier Banking Corporation, MBCA Bank and Interfin Merchant Bank of Zimbabwe undisclosed amounts after reportedly failing to repay loans leading to a garnishing order.
An official from Bulawayo Real Estate, who refused to be named, yesterday confirmed that the auction was on.
One of the properties that is due to be auctioned is an apartment the-once flamboyant Lupepe owns at Ascot's Kenilworth Towers.
According to a notice by Bulawayo Real Estate (Pvt) Limited on behalf of the Sheriff of the High Court, Lupepe would lose his flat at No 1201 12th floor Kenilworth in Bulawayo to Premier Banking Corporation over an unspecified loan amount.
Another property, a double-storey residential house, No 73 Heyman Road in Suburbs in Bulawayo, will go under the hammer to compensate MBCA Bank after Merspin also failed to service another loan at the bank.
The double-storey house has four bedrooms, staff buildings and a swimming pool, among other developments on the stand.
Interfin also seeks to recover a loan it extended to Merspin and Bernard Construction through the sale of another residential stand, no 295 Matsheumhlophe, Colleen Road, where Lupepe's mother resides.
Lupepe's Merspin and Bernard Construction owe Premier Banking Corporation, MBCA Bank and Interfin Merchant Bank of Zimbabwe undisclosed amounts after reportedly failing to repay loans leading to a garnishing order.
An official from Bulawayo Real Estate, who refused to be named, yesterday confirmed that the auction was on.
One of the properties that is due to be auctioned is an apartment the-once flamboyant Lupepe owns at Ascot's Kenilworth Towers.
According to a notice by Bulawayo Real Estate (Pvt) Limited on behalf of the Sheriff of the High Court, Lupepe would lose his flat at No 1201 12th floor Kenilworth in Bulawayo to Premier Banking Corporation over an unspecified loan amount.
Another property, a double-storey residential house, No 73 Heyman Road in Suburbs in Bulawayo, will go under the hammer to compensate MBCA Bank after Merspin also failed to service another loan at the bank.
The double-storey house has four bedrooms, staff buildings and a swimming pool, among other developments on the stand.
Interfin also seeks to recover a loan it extended to Merspin and Bernard Construction through the sale of another residential stand, no 295 Matsheumhlophe, Colleen Road, where Lupepe's mother resides.
Source - southern eye
