adminProsper Dembedza
Court Correspondent
Globe Trot (Private) Limited has petitioned the High Court in a bid to recover US$50 000 that was advanced to Probadek Investments as capital after an unsuccessful potential joint mining venture.
The local firm filed summons at the High Court where it jointly cited Probadek and its directors, Patricia Mutombgwera and Grant Chitate, as the defendants.
It is alleged that on or about October 2020, Globe Trot and the defendants agreed to enter into a joint venture agreement which resulted in plaintiff advancing US$50 000 to the first defendant as capital amount for the intended joint venture agreement.
Court papers show that on October 28 last year, all the defendants acknowledged their indebtedness to the plaintiff in the sum of US$50 000.
They further undertook to pay the amount in full on or before December 30, if the parties failed to conclude the joint venture agreement.
The intended joint venture did not materialise and the plaintiff communicated this to the defendants and went on to demand its US$50 000.
“In material breach of the acknowledgement of debt, the defendants have failed to repay the said amount. Despite demand, the defendants have failed, refused or neglected to pay the whole amount owing and they remain in mora,” reads part of the plaintiff’s declaration.
High Court judge, Justice Tawanda Chitapi recently dismissed Probadek’s urgent application to stop Redwing Mining Company (Redwing) from cancelling its mining contract and subsequently signing agreements with two other tributary investors.
Probadek’s directors, Mutombgwera and Chitate, challenged Redwing’s decision to cancel their joint venture agreement and the granting of tribute agreements in favour of two other mining companies that were later given rights to mine at Redwing Mine.
Justice Chitapi dismissed the urgent chamber application.
The applicant followed up on the agreement by executing a tribute in terms of which it was granted exclusive rights to mine certain listed claims.
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