Home / Business / Zimbabwe: Zetdc Sued Over $80k Debt

Zimbabwe: Zetdc Sued Over $80k Debt

Zimbabwe Electricity Transmission and Distribution Company (ZETDC), a subsidiary of ZESA Holdings, could lose its property after it failed to settle a debt of $79 457 to a local motor spares firm.

Clover Leaf Motors (Pvt) Limited supplied spares and repaired vehicles for ZETDC, but the power company did not pay.

Harare lawyer Mr Raymond Nembo, on behalf of Clover Leaf, successfully issued summons claiming the debt.

High Court judge Justice Edith Mushore recently ordered ZETDC to pay up the principal debt together with interest.

Efforts by Clover Leaf to recover the outstanding money hit a brickwall and a writ of execution was obtained.

On Monday Mr Nembo instructed the Sheriff to attach property from ZETDC’s Wayne Street offices in Harare.

Part of the lawyer’s letter to the Sheriff reads: “Kindly attach the judgment debtor’s property at the address mentioned below: ZETDC Wayne Street, Harare.”

The lawyers have since paid the relevant fees to the Sheriff of the High Court to enable him to execute.

In August 2014, the two firms entered a verbal agreement in which Clover Leaf was to supply motor spares to ZETDC.

In terms of that same agreement, Clover Leaf agreed to repair the parastatal’s vehicles on credit.

ZETDC, according to the agreement, would pay for the services and spares within 30 days of receipt of invoice.

It was also a term of the agreement that interest would be charged on the facility at the prescribed rate of 5 percent per annum.

Pursuant to the agreement, Clover Leaf supplied spares to ZETDC and repaired the power company’s vehicles between August 2014 and December 2015 before issuing a bill of $79 357,29.

The facility expired in January 2016 by which time ZETDC had not paid.

Efforts by Clover Leaf to recover the money were fruitless and a claim was filed at the High Court.

Source :


Check Also

Suspended Zbc Boss Contests $1m Suit

By Daniel Nemukuyu Suspended ZBC head of News and Current Affairs Tazzen Mandizvidza, who is …

error: Content is protected !!