News / Local
Delma Lupepe houses auctioned for $108 000
21 Jul 2013 at 10:37hrs | Views
TWO houses belonging to Bulawayo businessman Delma Lupepe were on Friday auctioned for a combined value of $108 000.
The third house, situated in Matsheumhlope where his mother and co-director Grace Lupepe stays was spared after its auctioning was withdrawn.
Three financial institutions Premier Banking Corporation, MBCA Bank and Interfin Merchant Bank descended on the three houses in the city to recover undisclosed debts his companies owe.
The properties, one at No 73 Heyman Road in Suburbs in Bulawayo, went for $53 000, his flat at No 1201, 12th Floor, Kenilworth Flats at Ascot was sold for $55 000.
In 2011 the mogul was taken to court by Old Mutual Property Investments Corporation over a debt of $450 000 after his companies Zimbabwe Express Services Limited and Merspin Limited had failed to pay rentals.
He also had running battles with his employees over failure to pay salaries, with arrears as high as $300 000.
Investigations last week revealed that the Registrar of Companies was contemplating de-listing his companies.
The third house, situated in Matsheumhlope where his mother and co-director Grace Lupepe stays was spared after its auctioning was withdrawn.
Three financial institutions Premier Banking Corporation, MBCA Bank and Interfin Merchant Bank descended on the three houses in the city to recover undisclosed debts his companies owe.
The properties, one at No 73 Heyman Road in Suburbs in Bulawayo, went for $53 000, his flat at No 1201, 12th Floor, Kenilworth Flats at Ascot was sold for $55 000.
In 2011 the mogul was taken to court by Old Mutual Property Investments Corporation over a debt of $450 000 after his companies Zimbabwe Express Services Limited and Merspin Limited had failed to pay rentals.
He also had running battles with his employees over failure to pay salaries, with arrears as high as $300 000.
Investigations last week revealed that the Registrar of Companies was contemplating de-listing his companies.
Source - southerneye
