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Fidelity printers, mining firm fight over equipment

by Stephen Jakes
08 Dec 2019 at 11:18hrs | Views
Ilasha Mining (PVT) Limited together with the Fidelity Printers and Refineries (PVT) Limited are embroiled in a legal battle with a  mining equipment supplier, Yakatala Trading (PVT) Limited for failing to collect its equipment worth over $1 million from its premises.

Yakatala (PVT) recently filed an application at the Bulawayo High Court to compel the mining firm  and Fidelity Printers to collect the equipment at the same time demanding storage costs amounting to $78 487, 50.

In his founding affidavit Yakatala Trading Managing Director Shlomo Leper quoted Ilasha Mining and Fidelity Printers as first and second claimants respectively.

It was submitted that in September 2017 the company had a contract of sale with Ilasha Mining for the sale and purchase of mining equipment  on a loan facility entered into with Fidelity Printers.

"Pursuant to the said contract of sale and in terms of the said loan facility, between 1st and 2nd  claimants, the 2nd claimant paid the sum of $1 808 829 to applicant's for the purchase of the said equipment," Leper submitted.

Leper said for some time Ilasha Mining refused to collect the equipment.

"This court settled that on February 1 2018 under HC 3283/17 and judgment No HB03/18. Despite the judgment, 1st claimant has up to date not collected the equipment having noted an appeal at the Supreme Court which appeal was dismissed," Leper said.

"1st claimant has failed to pay applicant's costs including damages for storage. The accrued   storage costs stand at $78 487, 50 and continue accrue at a rate of $201, 25 per day."

Leper prayed for the court to rule for the collection of equipment and payment of storage fee and  costs of suit.

Source - Stephen Jakes