Zimasco secures order for hearing of its appeal

The Constitutional Court dismissed the corporation’s bid to challenge a Supreme Court decision that reversed a High Court ruling awarding Housing Corporation damages for lost profits. This seven-year contractual dispute, which began in arbitration and wound its way through the judicial system, has now been definitively resolved.

Online Reporter

ZIMASCO (Pvt) Ltd has successfully secured an order for the urgent hearing of an appeal challenging a decision that prevents Harare lawyer Mr Wilson Manase from presenting himself as a corporate rescue practitioner for the company.

The appeal was lodged with the Supreme Court by Kwekwe businessman Shepherd Tundiya and his company, Avim Investments, contesting an interdict issued against Mr Manase.

Justice Tendai Uchena presided over the matter and granted Zimasco’s application.

The High Court registrar was directed to compile and dispatch the record of proceedings to the Supreme Court registrar by April 25, in preparation for the appeal’s hearing.

Justice Uchena’s order explicitly restrained Mr Manase from performing or presenting himself as a Corporate Rescue Practitioner under Part XXXIII of the Insolvency Act [Chapter 6:07].

The matter is to be scheduled for the earliest available Supreme Court date. The court order was issued with the consent of all parties, without affecting the substantive grounds of the appeal.

Zimasco has informed its stakeholders that, based on the latest legal developments, two High Court orders previously issued pertain to Sinosteel Zimasco (Pvt) Ltd, a separate entity, and therefore cannot be enforced against Zimasco (Pvt) Ltd.

To address any lingering uncertainties, a further High Court application has been filed for determination on this issue.

In the midst of these proceedings, the Chinese Embassy has formally communicated its concerns to the Government of Zimbabwe regarding the protection of its investments in Zimasco (Pvt) Ltd.

It has urged the Government to take immediate and decisive measures to prevent any unlawful interference with these investments.

Advocate Daniel Tivadar is representing Zimasco in the ongoing legal matters, while Advocate Silvester Munyaradzi Hashiti is acting on behalf of Avim Investments, Shepherd Tundiya, and Mr Manase.