admin
Hanrob Investments offered Stand Number 6 Tara Township while Wykeham bonded Stand 644 Ruwa.
In breach of the agreement, Lunar Chickens has failed to settle the loan under the credit facility that expired on May 31, 2011.
The balance outstanding on the loan stood at US$1 274 167,85 as at April 2012.
The capital amount is US$998 996,03 and interest by April this year was calculated at US$275 161,82. Bank charges were only US$10.
Also see
Despite demand, the six defendants have refused to settle the said amount, prompting RMB to file summons at the High Court on June 1 this year.
The summons was duly served on the defendants on June 13 this year and the deputy sheriff produced a return of service document that was filed at the High Court.
Lunar Chickens, Dr Gono and the four other firms did not respond to the claim until they were automatically barred in terms of the rules of the High Court.
RMB then filed a chamber application seeking a default judgment in terms of the summons issued.
Justice Bhunu granted the chamber application last Wednesday.
RMB is on record claiming that Lunar Chickens owed it US$1 million while the central bank itself owes it US$8 million.
In another claim at the High Court, RMB indicated that if it got back the US$9 million owed by the two entities, its financial woes would end.
leeroy