News / National
Supreme Court throws out ex-Mines minister's appeal
20 Nov 2020 at 06:28hrs | Views
The Supreme Court has turned down former Mines deputy minister Fred Moyo's leave to appeal a decision against seizure of his estate to settle an over US$766 000 debt he owed to Stanbic Bank.
Moyo had made the appeal under case number SC276 of 19 against last year's judgment made by high Court judge Justice edith Mushore, who ruled in favour of Stanbic which was seeking to recover its money.
"Whereupon after reading documents filed of record and hearing counsel, it is ordered by consent that the appeal be and is hereby struck off the roll with costs," ruled the Supreme Court.
The writ of execution against Moyo's property came after he and his fellow directors in a mine called Ox Mining failed to settle the loan they had personally guaranteed.
The auction of some of Moyo's property raised a paltry US$7 767, resulting in the high Court granting Stanbic an application for sequestration of the former Zanu PF minister's estate.
Moyo had made the appeal under case number SC276 of 19 against last year's judgment made by high Court judge Justice edith Mushore, who ruled in favour of Stanbic which was seeking to recover its money.
"Whereupon after reading documents filed of record and hearing counsel, it is ordered by consent that the appeal be and is hereby struck off the roll with costs," ruled the Supreme Court.
The writ of execution against Moyo's property came after he and his fellow directors in a mine called Ox Mining failed to settle the loan they had personally guaranteed.
The auction of some of Moyo's property raised a paltry US$7 767, resulting in the high Court granting Stanbic an application for sequestration of the former Zanu PF minister's estate.
Source - newsday
