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Supa Mandiwanzira ordered to pay 7-year debt

by newzimbabwe
30 Jan 2020 at 08:43hrs | Views
FORMER Cabinet Minister, Supa Mandiwanzira has been ordered to pay a US$297 598 debt to Westlake International Finance Limited.

The debt has been outstanding for the past seven years and arose after Mandiwanzira's firm Tarcon (Private) Ltd borrowed the funds from the finance company.

Mandiwanzira who is Zanu-PF MP for Nyanga South, and Florence Erina Ziumbe, are respondents in the matter. Ziumbe is the founder of PROWEB.

The matter was heard by High Court judge, Joseph Mafusire.

"The defendants (Mandiwanzira and Ziumbe) shall pay US$297 598 or its equivalent in Zimbabwean dollars at the interbank exchange rate applicable at the time of payment," said the judge.

The order was issued on January 15 this year.

On January 24, 2020 the company also obtained a writ of execution against Mandiwanzira and Ziumbe over the debt issue.

"You are required and directed to attach and take into execution the movable goods of Supa Collins Mandiwanzira of 7 Kenilworth Road, Highlands Harare and Florence Erina Ziumbe of 18 Fletcher Road Mt Pleasant, Harare the above mentioned defendants and of the same cause to be realised the sum of US$297 598 or its equivalent in Zimbabwean dollars at the interbank exchange rate applicable at the time of repayment," reads part of the writ of execution.

Through its lawyers, Gill, Godlonton and Gerrans, Westlake International Finance, filed summons at the High Court on October 29, 2018.

The finance company said from January 2012 to February 2013, it concluded three separate loan agreements with Tarcon where it was advanced US$700 000 in January 2012; US$615 960 I August 2012 and US$416 100 in February 2013.

According to court papers, Mandiwanzira and Ziumbe bound themselves as sureties and co-principal debtors to the loan but Tarcon failed to repay the full amount, forcing Westlake International Finance Limited to approach the court for recourse.

Mandiwanzira and Ziumbe had opposed the claim but the judge trashed their arguments.

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Source - newzimbabwe