FORMER Amazulu Football Club proprietor and Zimpapers board chairperson Delma Lupepe is embroiled in a legal wrangle with the Nissi Global (Pvt) Ltd, which is suing him over non-servicing of a loan amounting to over $29 000 that he borrowed sometime last year.
BY SILAS NKALA
Nissi Global filed summons at the Bulawayo High Court on March 10, citing Lupepe and his wife Abigail Nobuhle as first and second respondents respectively.
“The plaintiff claims for an order that first defendant’s hypothecated Mercedes Benz motor vehicle model S500 registration number ADL8888 be and is hereby declared executable, from first and second defendant jointly and severally one paying the other to be absolved payment of $29 604 being the capital and interest on a loan advanced by plaintiff to first defendant and whose repayment was guaranteed by second defendant,” the summons read in part.
“About $760 being storage charges for a vehicle hypothecated as security for the due payment of the loan which defendant agreed to pay, $152 being penalty charges for overdue instalments which defendant agreed to pay, $1 being telephone charges payable by the defendants in terms of the loan agreement. Five dollars per day for vehicle storage charges from March 7, 2017 to date of payment or disposal of the vehicle whichever is the earlier.”
The company said Lupepe should pay $3 per day being the default penalty from March 7 to date of full payment. The company also demanded the interest payment on the sum of $29 604 at the rate of 8% per month from March 6, 2017 to date of payment and the cost of suit at a scale of attorney and client.
In its declaration of the claim, Nissi Global submitted that on September 5, 2016 it entered into an agreement with Lupepe in which it advanced the sum of $20 000 to him.
“The first defendant agreed to repay the principal amount of the said $20 000 together with the interest at the rate of 8% per month in six equal instalments of $4 934, the first of which it was payable on October 5, 2016 and the last of March 6, 2017,” the declaration read.
“It was a term of the agreement that in the event of first defendant failing to pay any of one instalment on the due date the total balance of the loan then outstanding and all other sums payable under the agreement would immediately become due and payable.”
Nissi Global submitted that they agreed that Lupepe would pay a penalty fee on all overdue instalments to be calculated on a daily basis at the rate of $1 per day and be liable to the cost of telephone calls made by the plaintiff in connection with the loan at a cost of $1. The company said it was agreed to institute legal action if Lupepe failed to repay the loan.
The Zimpapers boss had ceded his car as collateral which he delivered to the company while his wife Abigail bound herself as a surety and guarantor in the deal.
“Despite demand, the defendants have failed, refused or neglected to pay the sum of $29 604,” the declaration read.
Lupepe is yet to respond to the lawsuit.