adminMashudu Netsianda Senior Court Reporter
PERANDORI Investments, one of the investment companies in Bulawayo that recently collapsed, is undergoing a process of liquidation, while Geozing Pawnbroking intends to meet its creditors and contributories early next month to prove their claims in preparation to refund them their money.
Perandori Investments, which was involved in pawnbroking, auctions and mining contracts, tumbled last month after failing to pay interest to more than 100 investors.
According to investors, the company was offering them between 25 and 40 percent interest on their investment.
Scores of investors last month besieged the offices situated along 2nd Avenue and Samuel Parirenyatwa Street, demanding their money.
One of the directors of Perandori Investments, Mr Christopher Moyo yesterday confirmed that they were in the process of placing the company under liquidation through their lawyers, Webb, Low and Barry Legal Practitioners.
“We are going through the process of liquidation and our lawyers are handling the issue, which is going to be finalised on Friday,” he said.
The company has however promised to refund investors their money starting today.
When Chronicle visited the company’s offices yesterday, a notice had been placed on the main door and it read: “We apologise for the delays in paying up amounts due to our clients. All payments are going to start from 25 June 2013 and payments would be done as per dates (backlog).”
Geozing yesterday also placed a notice in the Press notifying creditors and contributors of two meetings that would be held between 8 and 9 July at Bulawayo Amphitheatre.
“In pursuant of Subsection (1) of Section 220, Subsection (4) of Section 221 or Subsection (1) of Section 263 of the Companies Act (Chapter 24:03), notice is hereby given that a meeting of creditors and/or contributories will be held on 8 and 9 July 2013,” read part of the notice.
Geozing Pawnbroking Company was last month placed under provisional liquidation following the granting of a High Court order by Justice Martin Makonese.
In granting the order, Justice Makonese said the company directors, Mr George Zingane and his wife Duduzile Ndlovu ceased to be directors.
Bulawayo lawyer Mr Matshobana Ncube and Mr Philip Ndlovu have been appointed to run the affairs of the company in terms of Section 221 of the Companies Act, Chapter 24:03.
The company has been locked in a series of battles with hundreds of its clients who have made several court applications seeking to recover their money.
Geozing Pawnbrokers collapsed in April resulting in hundreds of investors losing thousands of dollars invested with the company.
The company was promising to pay 30 percent interest on investment per month.
Online Reporter