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Yeukai Karengezeka,Herald Correspondent
Former Lobel’s (Pvt) Ltd employee John Nyakamha has approached the High Court seeking to have his arbitral award which he won in 2003 worth $1,7 million in the old Zimbabwean currency quantified.
Lobel’s Pvt (Ltd) is cited as the respondent in the matter.
According to the Interest Research Bureau in Zimbabwe who are assisting in the re-quantification of Nyakamha’s arbitral award, he should now be paid $9 273 857.
This consists of the capital amount of $1 724 555 and outstanding interest of $7 549 302.
Nyakamha, through his lawyers Kamusasa and Musendo, is seeking the court to accept the quantification report and make an award of the same.
Nyakamha, who was a transport manager, was suspended in May 2001 and contested the decision and the labour officer ruled that he be reinstated.
According to his application filed at the court, he said reinstatement was no longer possible given the breakdown of relations between the parties.
An arbitrator from the Commercial Arbitration Centre handed down an award of $1 724 550 on 21 January, 2008.
Nyakamha argued that the bread making company was refusing to pay him his dues on the basis that the money was demonetised.
“The dispute between the two parties is whether or not respondent is obliged to pay anything to me and if so, how much,” he said.
“This has emanated from long-standing dispute conversion of CH Lucas award which was in Zimbabwean dollars (old currency) to the currency of the day.
“Respondent has maintained that since Zimbabwean dollar (old currency) was demonetised, it also meant that the award also fell away.
“I have maintained the award is still valid to date and effect must be given to the award.”
Nyakamha said he had sought to have the matter resolved by settlement and negotiation for the past 17 years, but to no avail and was appealing to the court to have the awards made in his favour be effected.
Nyakamha wants Lobel’s to pay the cost of the suit on a higher scale.
The case is yet to be sat down for hearing.
Online Reporter