Latest News Editor's Choice

News / Local

US$250 000 debt chokes Zanu-PF bigwig

by Staff reporter
17 May 2022 at 06:36hrs | Views
FORMER State Security minister and Zanu-PF bigwig Sydney Sekeramayi has been dragged to court over a US$250 000 debt he owes a friend.

Sekeramayi, who is also a Mashonaland East senator, was sued by businessman and Hwezhaz proprietor Exevia Maoneke, who claims that he lent him the money last year and the former minister promised to pay it back by February 28 this year.

After Sekeramayi failed to pay the debt, Maoneke sought the court's intervention.

Court papers state that the money was given to the politician in two batches of US$150 000 on August 18, 2021 and US$100 000 on a later date.

The court papers also further state that Sekeramayi offered his Marondera stand measuring 4 199 hectares as surety and mortgage bonds were registered against the property.

After he failed to pay back, Maoneke's lawyers wrote a letter of demand to Sekeramayi.

"You will recall that it was a material term of the agreement that the loan would become due and payable on the 28th of February 2022. Having not tendered repayment, we are accordingly instructed to serve this letter as our client's final demand that you pay US$250 000," the letter from the lawyers read.

Copies of the mortgage bond revealed that Sekeramayi was supposed to pay U$150 000 on December 4 last year.

The balance of US$100 000 was supposed to be paid on February 28 this year.

The final letter of demand was handed to Sekeramyi at his Borrowdale residence in March 2022 where Maoneke gave him until March 14 to settle the debt.

While passing judgment on the matter, High Court judge Justice Slyvia Chirawu-Mugomba said Sekeramayi should pay the debt.

Chirawu-Mugomba slapped the former minister with costs of the lawsuit.

"Whereupon after reading documents filed of record and hearing counsel, it is ordered that the provisional sentence be, and is hereby granted against Sekeramayi. Sekeramayi shall pay Maoneke US$250 000 plus interest at the prescribed rate of five percent (5%) at the date of filing of the summons until the date of payment," Chirawu-Mugomba ruled.

"The immovable property called stand 722 Marandellas Lands measuring 4 199 square metres, held under deed of transfer No 10120/1997 dated November 25, 1997 be, and is hereby declared executable," the judge added.

Sekeramayi was also ordered to pay a collection commission in terms of the Law Society of Zimbabwe tariff, being 10% of the capital.

Source - NewsDay Zimbabwe