adminCommission after the former failed to recover the shares it had pledged as security after borrowing money from Interfin Securities.
Remo borrowed money from Interfin and pledged some shares as security.
The shares pledged were CBZH (5 million), Old Mutual (700 000), DZHL (5 million and TA Holdings (1,012,161). After Remo repaid the loan of about US$700 000, Interfin refused to surrender the shares.
They argued the owner of Remo, Mohamed Mahmed, through a company in which he is a director, owes Interfin.
Interfin Securities is understood to have also borrowed money using the same security that Remo had pledged.
This week, Remo filed a court application to recover the shares initially lodged as security and an order was granted to have the shares attached and kept in the custody of the Deputy Sheriff, pending a ruling by the High Court.
“Some of the parcels have been sold and are now registered under the different names, which could cause serious problems for buyers,” said one source close to the developments.
“The deputy sheriff and Copserve have already started tracing some of these shares.”
Online Reporter
- Herald
- September 25, 2026
- 25 views
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