Latest News Editor's Choice


News / National

New twist to Pfugari estate wrangle

by Staff reporter
20 Aug 2020 at 07:44hrs | Views
THE wrangle over the estate of the late property mogul Edward Nyanyiwa, better known as Eddie Pfugari, has taken a new twist after the executor of his late wife's estate accused his son, Edward Jnr of having defrauded her with regard to their empire.

The case will be heard before High Court judge Justice Musithu today.

Stern Mafara, executor of Pfugari's late third customary wife, Mildred, is the applicant in the matter and he wants his client and Pfugari declared the only people with shareholding in the empire.

This is despite official documents and a will by the late property mogul indicating that half the shares belonged to his eldest son, Edward Nyanyiwa Junior.

Mildred's children, Stephen and Henrietta, are trying to elbow out Nyanyiwa Jnr out of the estate and have joined hands with two other children from the businessman's second wife.

Edward Jnr is the son of Pfugari's first wife of South African origin. Pfugari's siblings are at loggerheads over the estate with the case still pending before the courts.

The High Court quashed an earlier application to have Edward Jnr deported to South Africa after it ruled he was a legitimate Zimbabwean citizen by descent and had the right to his father's estate as specified in his father's will.

At the time of Nyanyiwa's death in February last year, only Edward Jnr was in good books with his father as the other children had become estranged.

In the latest court application, Mafara cited Clever Mandizvidza, executor of Pfugari's estate, Edward Jnr, Eddies Pfugari (Pvt) Ltd who is a holder of shares in Pfugari's 12 companies, E Pfugari (Pvt) Ltd and other companies, as respondents.

Also cited as respondents are the Registrar of Companies, Deeds and the Master of the High Court.

"The late Mildred Nyanyiwa together with her husband Edward Nyanyiwa to whom she was married in terms of the Marriages Act in 1965 formed the third defendant, a company called Eddies Pfugari (Pvt) Ltd in 1980 and in which they were both directors with equal shareholding. The company was named from the latter's first name and the former's nickname (Pfugari) in recognition of their business partnership," said Mafara.

He said through the companies, the couple acquired other companies which they registered under Eddies Pfugari (Pvt) Ltd.

Both are alleged to have put all their energy and resources into their empire and all the companies belonged to Eddies Pfugari's (Pvt) Ltd.

It is alleged in 1995, Pfugari incorporated E Pfugari's in violation of the Deeds Act and unlawfully caused Whitecliff Farm to be transferred from Eddies Pfugari (Pvt) to E Pfugari (Pvt) Ltd without the endorsement of Mildred.

Mildred, it is argued, was entitled to 50% shareholding in all the companies by virtue of the funds used to acquire the empire.

Pfugari, it is further alleged, altered fourth, ninth and 13th companies to reflect himself as a 50% shareholder and consequently of the seventh and 13th companies as they are wholly owned by E Pfugari (Pvt) Ltd.

He is accused of having fraudulently altered the status of other companies in his favour in connivance with his executor, thereby defrauding Mildred.

Mafara is seeking an order declaring the companies to be wholly owned by Eddies Pfugari (Pvt) Ltd, an order declaring Mildred to be a 50% shareholder, an order declaring Pfugari a 50% shareholder an order removing any other person claiming to be a shareholder except Mildred and her late husband.

Source - newsday

Subscribe

Email: