News / National
Court orders Prophet Magaya to repay US$3m to Israeli partner
5 hrs ago |
430 Views
A Walter Magaya, founder of Prophetic Healing and Deliverance (PHD) Ministries, has been ordered by the Harare High Court to repay US$3 million to an Israeli business partner.
The ruling rejects Magaya's defence that the obligation was invalid under Zimbabwe's exchange control regulations.
The court heard that the funds were allegedly advanced by a group of Israeli businessmen through Ambassador Ronny Levi Musan, Zimbabwe's Consul General in Israel. The businessmen claim they were swindled out of the money, prompting legal action to recover the sum.
The judgment underscores the enforceability of contractual obligations under Zimbabwean law, even where foreign exchange regulations are cited as a defence. Further details on the repayment timeline and potential appeals have not yet been disclosed.
The ruling rejects Magaya's defence that the obligation was invalid under Zimbabwe's exchange control regulations.
The court heard that the funds were allegedly advanced by a group of Israeli businessmen through Ambassador Ronny Levi Musan, Zimbabwe's Consul General in Israel. The businessmen claim they were swindled out of the money, prompting legal action to recover the sum.
The judgment underscores the enforceability of contractual obligations under Zimbabwean law, even where foreign exchange regulations are cited as a defence. Further details on the repayment timeline and potential appeals have not yet been disclosed.
Source - online
Join the discussion
Loading comments…
