News / National
Buyanga wins Supreme Court challenge
18 May 2015 at 15:08hrs | Views
The Supreme Court has ruled in favour of businessman Frank Buyanga and his Zimcor Trustees, setting aside the previous judgement by the High Court in a case involving the sale of Rasar Investments shares.
In a judgement handed on Monday, the Supreme Court set aside the High Court's ruling and dismissed the plaintiff's claims with costs.
The Supreme Court established a lot of anomalies in the first respondent Webster Tongoona Rushesha's claim to the property in contention and has ruled that the earlier judgement reached by the High Court be set aside.
The High Court had previously invalidated the sale and transfer of shares to Zimcor and the subsequent sale of the property to Boka Investments.
In its judgement, the High Court had ordered that previous directors of Rasar Investments be reinstated and that the original deed of transfer in the name of Rasar Investments remains valid.
Rushesha has been seeking to reverse the sale of his property to Zimcor Trustees on the grounds that the property was fraudulently acquired by the appellants.
In a judgement handed on Monday, the Supreme Court set aside the High Court's ruling and dismissed the plaintiff's claims with costs.
The Supreme Court established a lot of anomalies in the first respondent Webster Tongoona Rushesha's claim to the property in contention and has ruled that the earlier judgement reached by the High Court be set aside.
The High Court had previously invalidated the sale and transfer of shares to Zimcor and the subsequent sale of the property to Boka Investments.
In its judgement, the High Court had ordered that previous directors of Rasar Investments be reinstated and that the original deed of transfer in the name of Rasar Investments remains valid.
Rushesha has been seeking to reverse the sale of his property to Zimcor Trustees on the grounds that the property was fraudulently acquired by the appellants.
Source - zbc
