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Fidelis Munyoro Chief Court Reporter
The case in which CMED (Private) Limited is suing a private fuel supplier, First Oil, to recover more than $2, 7 million over a botched deal has been set for hearing on October 26 in the High Court.
CMED is also seeking to recoup $1 276 611.84 damages for cost of finance and loss of business stemming from the scam at the State-run transport entity two years ago involving First Oil directors.
The figure is set to increase to more than $4 million after factoring in interests at the prescribed rate per year.
In the court proceedings filed at the High Court last year, CMED sued First Oil and its four directors—Messrs Maxwell William Katunga, Lyon Gilbert Katunga, Alex Kudakwashe Mahuni and Gavin Allen Katunga.
It also sued its former managing director Mr Davison Mhaka and fuels manager Mr Brian Manjengwa in a case which exposed the level of corruption and poor corporate governance at most State owned enterprises.
The case stands out as a leading case of how some institutions are fighting corruption linked to connivance between management and outsiders.
Online Reporter