Business / Companies
New twist to Intermarket, ZB saga
14 Jan 2015 at 02:26hrs | Views
In a surprise turn of events in the ZB Financial Holdings and Intermarket Holdings Limited dispute, ex-Reserve Bank governor Gideon Gono has acceded that Nicholas Vingirai must be given back his assets.
This comes as the Transnational Holdings Limited founder and his associates have launched a fresh bid to regain their banking assets collated into the ZSE listed group, and reports that the central bank had also previously worked on two proposals to resolve the long standing feud.
In a October 2012 letter to Vingirai's attorney said the main Bank had no qualms in the former regaining his banking assets after clearing the once-exiled businessman of externalisation charges that "he did not flee the country as was then popularly thought".
"On scrutinising Vingirai's activities and Intermarket transactions, the RBZ can confirm that there is no indication of deliberate externalisation or exchange control related issues against hi mas was initially preferred, to this end, we have no hesitation in requesting you as his legal council to do everything legal and possible to get him to recover his assets and most urgently the farm…" the letter said.
This comes as the Transnational Holdings Limited founder and his associates have launched a fresh bid to regain their banking assets collated into the ZSE listed group, and reports that the central bank had also previously worked on two proposals to resolve the long standing feud.
In a October 2012 letter to Vingirai's attorney said the main Bank had no qualms in the former regaining his banking assets after clearing the once-exiled businessman of externalisation charges that "he did not flee the country as was then popularly thought".
"On scrutinising Vingirai's activities and Intermarket transactions, the RBZ can confirm that there is no indication of deliberate externalisation or exchange control related issues against hi mas was initially preferred, to this end, we have no hesitation in requesting you as his legal council to do everything legal and possible to get him to recover his assets and most urgently the farm…" the letter said.
Source - dailynews
