News / National
Ex-MDC MP faces jail over bank loan
15 Feb 2019 at 14:38hrs | Views
FORMER MDC legislator Paul Madzore risks civil imprisonment after he was taken to court by CBZ Bank Limited over a $22 000 debt.
The financial institution issued summons for civil imprisonment against Madzore at the High Court and the latter is yet to respond to the litigation.
In its declaration, CBZ Bank says Madzore is required to pay $22 087,51 following a judgment which was obtained against him last year.
"You, the defendant (Paul Madzore) are called upon to pay the plaintiff (CBZ Bank) the sum of $22 087,51, with interest thereon at the rate of 26% per annum calculated from March 30, 2017 to the date of payment in full. You are required to pay this sum by virtue of a judgment obtained against you in the High Court at Harare on July 10, 2018. You were also ordered to pay cost of suit on the higher scale of legal practitioner and client scale and the relevant collection commission …" the bank said.
CBZ further said in the event that Madzore fails to pay the requested cash, he would be required to appear before the High Court and explain his position.
"If you fail to pay the sum specified above, you must appear before the High court at Harare to explain why you have not paid it and to show cause why an order for your imprisonment should not be made in account of your failure to pay," the bank said.
"You should bring with you evidence of your financial position, and it will be in your own interest to give the court evidence of your income from wages, salary or other earnings and any other income you may receive from any other source, your expenses for yourself and any dependents and any other liabilities you may be subject."
The financial institution issued summons for civil imprisonment against Madzore at the High Court and the latter is yet to respond to the litigation.
In its declaration, CBZ Bank says Madzore is required to pay $22 087,51 following a judgment which was obtained against him last year.
CBZ further said in the event that Madzore fails to pay the requested cash, he would be required to appear before the High Court and explain his position.
"If you fail to pay the sum specified above, you must appear before the High court at Harare to explain why you have not paid it and to show cause why an order for your imprisonment should not be made in account of your failure to pay," the bank said.
"You should bring with you evidence of your financial position, and it will be in your own interest to give the court evidence of your income from wages, salary or other earnings and any other income you may receive from any other source, your expenses for yourself and any dependents and any other liabilities you may be subject."
Source - newsday
