News / Local
Delma Lupepe's fall from glory continues
27 Feb 2015 at 08:35hrs | Views
BULAWAYO businessman Delma Lupepe's fall from glory continues as two of his prime residential properties are set to go under the hammer next week over an outstanding debt to Premier Banking Corporation.
The financial institution recently obtained a writ of execution against Lupepe's company, Merspin.
Holland Auctioneers yesterday published a long list of fixed properties that would be auctioned in Bulawayo next Friday. Mesrpin is a textile manufacturing company specialising in towelling and at its peak exported its products into the region.
Three financial institutions, Premier Banking Corporation, MBCA Bank and Interfin Merchant Bank of Zimbabwe had attached the properties seeking to recover debt owed to them.
Lupepe was once counted among the richest Zimbabweans with interests in mining and manufacturing.
In the last few years Bulawayo Real Estate auctioned a number of properties belonging to Mr Lupepe.
The properties included No 72A Park Road, 11 Pauling Road in Suburbs respectively, 4 Bunting Close, Burnside, a Flat 209 Arlington Court in Ascot. The deputy sheriff also attached three of his houses, No 73 Heyman Road in Suburbs, 295 Colleen Road, Matsheumhlope - where his used to mother stay - and a flat 1201, 12th Floor, Kenilworth, at Ascot.
The Suburbs property and the flat were auctioned for a combined total of $108 000.
The financial institution recently obtained a writ of execution against Lupepe's company, Merspin.
Holland Auctioneers yesterday published a long list of fixed properties that would be auctioned in Bulawayo next Friday. Mesrpin is a textile manufacturing company specialising in towelling and at its peak exported its products into the region.
Three financial institutions, Premier Banking Corporation, MBCA Bank and Interfin Merchant Bank of Zimbabwe had attached the properties seeking to recover debt owed to them.
Lupepe was once counted among the richest Zimbabweans with interests in mining and manufacturing.
In the last few years Bulawayo Real Estate auctioned a number of properties belonging to Mr Lupepe.
The properties included No 72A Park Road, 11 Pauling Road in Suburbs respectively, 4 Bunting Close, Burnside, a Flat 209 Arlington Court in Ascot. The deputy sheriff also attached three of his houses, No 73 Heyman Road in Suburbs, 295 Colleen Road, Matsheumhlope - where his used to mother stay - and a flat 1201, 12th Floor, Kenilworth, at Ascot.
The Suburbs property and the flat were auctioned for a combined total of $108 000.
Source - Byo24News
