The Minister of Labour, Petronella Kagonye has been ordered by the High Court to repay $400 000 she borrowed from CBZ. If she does not...
The Minister of
Labour, Petronella Kagonye has been ordered by the High Court to repay $400 000
she borrowed from CBZ.
If she does not
settle the debt her property she surrendered as surety will be attached. Kagonye
acquired the loan in 2011 to finance her agricultural activities.
The litigation
also included three other individuals Peter Muganyi, Lilian Muganyi and Cecilia
Shingaidzo Midzi, who were cited as co-debtors after they signed and surrendered surety of their
properties towards Kagonye’s loan.
Justice Charles
Hungwe said: “Whereupon after reading documents filed of record and hearing
council it is ordered that: defendants (Kagonye, Peter, Lilian and Midzi) pay
the plaintiff (CBZ) the sum of $461 842.46, interest on the above amount at the
rate of 28% per annum.
“The
hypothecated immovable property being a piece of land in the district of
Salisbury called stand 808 Chadcombe Township of stand 562 measuring 480 square
metres….is declared executable.”
He added “all
the movable property covered in notarial general covering bond number 2645/2010
issued by the fourth defendant (Midzi) in favour of the plaintiff passed on May
12, 2010 is declared executable” adding: “all the movable property covered in
notarial general covering bond number 3000/2011 passed on June 1, 2011 and
5953/2010 passed on November 17, 2010 issued by the first defendant (Kagonye)
in favour of the plaintiff is declared executable”.
COMMENTS