News / National
Karikoga Kaseke to lose posh house over CBZ bank loan
12 Dec 2015 at 16:10hrs | Views
ZIMBABWE Tourism Authority (ZTA) chief executive officer Karikoga Kaseke is set to lose his posh Harare house over a $1,7 million bank loan which he has allegedly failed to service.
CBZ Bank has since approached the Sheriff who is set to auction the property on Thursday next week.
A writ of execution issued in favour of the bank under case number HC7746/14 directed to the Sheriff read in part: "You are required and directed to attach and take into execution the movable goods of Karikoga Kaseke, the abovementioned defendant, of Number 38 Boscobell Road, Highlands, Harare, and of the same cause to be realised the sum of $1 788 267,18 together with interest thereon at the rate of 36% per annum calculated from the 31st July 2014 to date of payment in full.
"You are further required and directed that if after due inquiry and diligent search you are unable to find any movable goods belonging to the said defendant of insufficient movable goods to satisfy the amount under this writ that you attach and take into possession of a certain piece of land situate in the District of Salisbury called Stand 13840 Salisbury Township held under Deed of Transfer number 14062/2001."
According to the court papers gleaned by NewsDay this week, on September 30 this year, the bank's lawyers, Mawere & Sibanda, wrote to the Sheriff giving instruction to have Kaseke's house advertised for sale.
The letter, which was signed by Godknows Nyangwa for Mawere & Sibanda law firm, read: "We write to instruct you to proceed with the necessary advertisement of the attached immovable property in this matter. We attach hereto proof of payment in the sum of $600 being your fees for the advertisement and sale in execution. We therefore await notification of the sale dates."
After receiving the letter and confirmation of payment, the High Court of Zimbabwe's Sheriff's office responded in a document dated November 27, 2015 advising the law firm that a sale date had been found.
"I thank you for your letter dated the 30th September 2015 with enclosures and advise that the sale of the defendant's (Kaseke) immovable property will be held at 10am on Thursday, December 17, 2015," the Sheriff said.
According to the court papers, a judgment against Kaseke and in favour of the CBZ in the claimed amount was entered on October 6 last year after the matter was heard in court in July of the same year.
Kaseke becomes the latest casualty among several top government officials who have lost immovable property for failing to repay bank loans in the past few years.
CBZ Bank has since approached the Sheriff who is set to auction the property on Thursday next week.
A writ of execution issued in favour of the bank under case number HC7746/14 directed to the Sheriff read in part: "You are required and directed to attach and take into execution the movable goods of Karikoga Kaseke, the abovementioned defendant, of Number 38 Boscobell Road, Highlands, Harare, and of the same cause to be realised the sum of $1 788 267,18 together with interest thereon at the rate of 36% per annum calculated from the 31st July 2014 to date of payment in full.
"You are further required and directed that if after due inquiry and diligent search you are unable to find any movable goods belonging to the said defendant of insufficient movable goods to satisfy the amount under this writ that you attach and take into possession of a certain piece of land situate in the District of Salisbury called Stand 13840 Salisbury Township held under Deed of Transfer number 14062/2001."
According to the court papers gleaned by NewsDay this week, on September 30 this year, the bank's lawyers, Mawere & Sibanda, wrote to the Sheriff giving instruction to have Kaseke's house advertised for sale.
The letter, which was signed by Godknows Nyangwa for Mawere & Sibanda law firm, read: "We write to instruct you to proceed with the necessary advertisement of the attached immovable property in this matter. We attach hereto proof of payment in the sum of $600 being your fees for the advertisement and sale in execution. We therefore await notification of the sale dates."
After receiving the letter and confirmation of payment, the High Court of Zimbabwe's Sheriff's office responded in a document dated November 27, 2015 advising the law firm that a sale date had been found.
"I thank you for your letter dated the 30th September 2015 with enclosures and advise that the sale of the defendant's (Kaseke) immovable property will be held at 10am on Thursday, December 17, 2015," the Sheriff said.
According to the court papers, a judgment against Kaseke and in favour of the CBZ in the claimed amount was entered on October 6 last year after the matter was heard in court in July of the same year.
Kaseke becomes the latest casualty among several top government officials who have lost immovable property for failing to repay bank loans in the past few years.
Source - newsday
