A former Air Force of Zimbabwe (AFZ) member is battling to recover his retirement package amounting to over $9 million from his account at CABS, 13 years after retirement.
When Elijah Peter Zvinavashe retired, he received a package amounting to $9 023 139.82 on December 21, 2007, which was deposited into his CABS account.
He says the building society has not released the money to date despite repeated requests.
In his claim filed at the High Court this week, Zvinavashe is seeking an order to compel CABS to release the money at the prescribed rate from the date the money was deposited into his account.
“From that amount the plaintiff (Zvinavashe) never received his money to date despite making frantic efforts to recover the same,” read the papers filed at the court on Tuesday.
“Wherefore, plaintiff claim for payment of the sum of $9 023 139.82 together with any penalties and interest, which would have accrued from date the money was deposited into plaintiff’s account to date of full payment.”
In addition, Zvinavashe wants CABS ordered to pay the cost of suit of a higher scale in the event it decides to oppose the claim.
CABS is yet to respond to the claim. In terms of the law, CABS has 10 days to oppose Zvinavashe’s claims after being served with summons.
If the financial institution fails to do so, the claim would be heard and dealt with by the High Court without further notice to it.