Zupco in debt trouble

for US$4 877 000 in terms of an agreement.
Pursuant to this, Zupco paid US$4 113 932, leaving a balance of US$763 086.
Zupco is said to have refused to pay the balance prompting PMC to take the matter to the High Court which ordered Zupco to repay the debt.

PMC, through the deputy sheriff, attached a property in Highlands known as Stand 41 Rolf Valley Township measuring 4 084 square metres in settlement of the debt.

An initial bid by Zupco to stay execution failed last Tuesday when the High Court threw out the bus company’s urgent chamber application.

Zupco lawyers Magwaliba and Kwirira took the matter up to the Supreme Court on an urgent basis.
Justice Anne-Mary Gowora granted the application and stopped the sale.

“The sale in execution of the applicant’s immovable property known as Stand Number 41 Rolf Valley Township of Lot D of Colne Valley measuring 4084 square metres situated in the district of Salisbury held by it under deed of transfer 3149/86 be and is hereby stayed pending the determination of the proceedings in case number SC147/13,” ruled Justice Gowora.

Advocate Tembinkosi Magwaliba instructed by Mr Chenjerai Daitai of Magwaliba and Kwirira represented Zupco while Mr Raymond Moyo of Gill Gondlonton and Gerrans acted for PMC.

In the urgent chamber application by Zupco, they argued that PMC had flouted the High Court rules in the manner in which they sought to attach the property.