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the BancABC assets last Tuesday. The assets seized at the company’s Mount Pleasant offices in Harare included 30 vehicles, office furniture and computers.
Although the details of the matter were still unclear as the case was held in camera, it is understood a client of the bank, Mr Jamal Joseph Hamed, was given money to purchase rough diamonds from Marange by BancABC sometime in 2010. However, Mr Hamed failed to repay the money.
As a result of the dealings with the bank, BancABC decided to withhold some of the funds belonging to Mr Hamed and Mackie Diamonds, who are said to have been part of the deal.
This resulted in the Belgian firm pursuing the matter through the courts. In February, the bank successfully warded off a writ of execution after a judgment by High Court judge Justice George Chiweshe compelled BancABC “to transfer to the applicant the sum of R86 986 075,44 by close of business on Saturday, February 9, 2013”.
But BancABC had protested against making the payment arguing that Mackie Diamonds together with Mr Hamed owed the bank in excess of what the financial institution was holding from separate deals.
“The reason why the bank had been protesting against the payment was because Mackie Diamonds was in partnership with Mr Hamed who jointly owe the bank,” said the source yesterday.
Mr Farai Mutamangira of Matamangira and Associates, who represents BancABC, said yesterday he could not comment on the basis that the matter was held in camera.
An official at the bank said: “It was purely a case of the bank insisting its rights” adding the development would not disrupt operations of the bank.
ZBC News reported yesterday that there was commotion at the BancABC headquarters as the bank tried to move out some of the attached vehicles while the Messenger of Court tried to block the move.
“In a typical real-life drama, the bank tried to sneak away an Isuzu twin cab but officials from the Messenger of Court gave chase and blocked it,” said ZBC News.
“Even the bank’s clients who had finished their business at the bank also clashed with officials from the Messenger of Court who were trying to verify if vehicles leaving the premises did not belong to the financial institution.”
Online Reporter