News / National
Dembare lawyers to respond to CBZ
11 Jan 2019 at 18:59hrs | Views
DYNAMOS have pleaded with one of their creditors, CBZ Bank, for dialogue after the bank applied for a court order this week to garnish the club's accounts as part of efforts to dissolve a debt of seven years.
CBZ approached the High Court of Zimbabwe accusing the Glamour Boys of failing to comply with a 2012 court judgment which compelled them to pay back a $250 000 debt.
The courts empowered the Premier Soccer League to garnish DeMbare's income from gate-takings. However, the bank said the order had been difficult to implement due to DeMbare's inability to comply. Dynamos chairman Isaiah Mupfurutsa yesterday said they were yet to receive court papers from the bank in the latest episode.
Mupfurutsa told reporters that Dynamos have been making efforts to settle their debts and were ready to engage the bank for a way forward.
"We know it's their right and choice to re-approach the courts on the same matter which we believe was solved a long time ago.
"But we think it was good for both of us to engage in dialogue and if it fails then they can approach the courts.
"But they have chosen the court route which we respect, if they serve us with court papers our lawyers will respond accordingly," said Mupfurutsa.
CBZ, in their latest application, are seeking variation of the 2012 judgment to extend to the other sources of the club's income, which include the accounts used to receive funds from their principal sponsors NetOne and Nyaradzo.
"The Premier Soccer League is bound by the 2012 High Court order to facilitating the process of repaying the debt that we owe CBZ bank.
"We have been complying with that court order, all our gate takings during the matches and other income we get, the PSL have been collecting the money and giving it to the bank's lawyers.
"We have our records to prove that.
"I think CBZ are trying to have variation of the 2012 court judgment, because I have read their court application circulating through social media.
"They are mentioning the accounts from our sponsors such as NetOne and Nyaradzo to be garnished. But they are failing to realise that the money any club gets from sponsors is not an income," said Mupfurutsa.
CBZ approached the High Court of Zimbabwe accusing the Glamour Boys of failing to comply with a 2012 court judgment which compelled them to pay back a $250 000 debt.
The courts empowered the Premier Soccer League to garnish DeMbare's income from gate-takings. However, the bank said the order had been difficult to implement due to DeMbare's inability to comply. Dynamos chairman Isaiah Mupfurutsa yesterday said they were yet to receive court papers from the bank in the latest episode.
Mupfurutsa told reporters that Dynamos have been making efforts to settle their debts and were ready to engage the bank for a way forward.
"We know it's their right and choice to re-approach the courts on the same matter which we believe was solved a long time ago.
"But we think it was good for both of us to engage in dialogue and if it fails then they can approach the courts.
CBZ, in their latest application, are seeking variation of the 2012 judgment to extend to the other sources of the club's income, which include the accounts used to receive funds from their principal sponsors NetOne and Nyaradzo.
"The Premier Soccer League is bound by the 2012 High Court order to facilitating the process of repaying the debt that we owe CBZ bank.
"We have been complying with that court order, all our gate takings during the matches and other income we get, the PSL have been collecting the money and giving it to the bank's lawyers.
"We have our records to prove that.
"I think CBZ are trying to have variation of the 2012 court judgment, because I have read their court application circulating through social media.
"They are mentioning the accounts from our sponsors such as NetOne and Nyaradzo to be garnished. But they are failing to realise that the money any club gets from sponsors is not an income," said Mupfurutsa.
Source - the herald
