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Mugabe's former minister stewing in debt
03 Feb 2018 at 20:08hrs | Views
Former minister in the then vice president Joice Mujuru's office, Flora Buka has been dragged to the High Court after failing to pay $87 000 owed to Paperhole Investments (Private) Limited.
According to court papers, Buka signed an acknowledgement of debt, which has become the basis for the court application.
"Plaintiff's claim against the defendant (Buka) is based on a liquid document in the form of an acknowledgement of debt duly executed by and between the defendant and plaintiff on the 14th of September 2016.
"In terms of the acknowledgment of debt, the defendant acknowledged its indebtedness to the plaintiff in the sum of $87 267,01, which amount was to be repaid in full on or before the 31st of December 2016," the court heard.
The origins of the debt were not stated in the court papers, except a copy of the acknowledgement of debt and reference to the same document.
According to the acknowledgement of debt document, in the event of a default in payment, interest would continue to be levied at the computed rate of one percent per month, calculated from September 14, 2016.
"The defendant has failed to tender payment as agreed or at all, towards liquidating the sums owed and is therefore in breach of the acknowledgment of debt.
"Despite demand, the defendant has failed, refused and/or neglected to pay the amount claimed despite being liable to do so," the court was told.
The matter, which has been brought for a provisional sentence will be heard today before High Court judge Jester Charewa.
In terms of the acknowledgment of debt document, there was not going to be any variation of the agreement unless reduced to writing and signed by the debtor and creditor.
"In the event of the debtor failing to pay any amount as and when it becomes due hereunder, then the creditor shall have the right without notice to claim and recover the whole of the capital sum and interest, or the balance thereof the outstanding, together with costs and collection charges and to institute legal proceedings against the debtor.
"The debtor shall be liable for the legal costs of such action on the scale of attorney and client," part of the acknowledgment of debt reads.
Buka has no yet respondent to the application.
According to court papers, Buka signed an acknowledgement of debt, which has become the basis for the court application.
"Plaintiff's claim against the defendant (Buka) is based on a liquid document in the form of an acknowledgement of debt duly executed by and between the defendant and plaintiff on the 14th of September 2016.
"In terms of the acknowledgment of debt, the defendant acknowledged its indebtedness to the plaintiff in the sum of $87 267,01, which amount was to be repaid in full on or before the 31st of December 2016," the court heard.
The origins of the debt were not stated in the court papers, except a copy of the acknowledgement of debt and reference to the same document.
According to the acknowledgement of debt document, in the event of a default in payment, interest would continue to be levied at the computed rate of one percent per month, calculated from September 14, 2016.
"The defendant has failed to tender payment as agreed or at all, towards liquidating the sums owed and is therefore in breach of the acknowledgment of debt.
"Despite demand, the defendant has failed, refused and/or neglected to pay the amount claimed despite being liable to do so," the court was told.
The matter, which has been brought for a provisional sentence will be heard today before High Court judge Jester Charewa.
In terms of the acknowledgment of debt document, there was not going to be any variation of the agreement unless reduced to writing and signed by the debtor and creditor.
"In the event of the debtor failing to pay any amount as and when it becomes due hereunder, then the creditor shall have the right without notice to claim and recover the whole of the capital sum and interest, or the balance thereof the outstanding, together with costs and collection charges and to institute legal proceedings against the debtor.
"The debtor shall be liable for the legal costs of such action on the scale of attorney and client," part of the acknowledgment of debt reads.
Buka has no yet respondent to the application.
Source - dailynews
