Drama continues to unfold at embattled Harare car dealer, Joyce Mukazhi’s Tromage Enterprises, with the latest episode involving failure by the firm’s shareholders to attend a creditors’ meeting at the High Court last Tuesday.
The two directors, Joyce and her partner Leon Mukazhi, were expected to attend the meeting to answer questions on the progress Tromage Enterprise had made in resolving the deepening crisis.
Since the company was placed under judicial management three months ago, no single creditor has yet been repaid the money they were swindled in botched car importation deals.
Joyce was last week convicted of lying that she was in Japan while she was in South Africa and through fake e-mails swindled Cashington Mavhunduke of
$26 500 in a botched car deal and nothing was recovered.
She was slapped with 480 hours of community service which she is expected to perform at Chishawasha Clinic, and was also ordered to reimburse the complainant by end of October.
Although the judicial manager, Knowledge Mumanyi, was present at the meeting on Tuesday, he is said to have failed to control the angry creditors who wanted the shareholders to update them.
Tempers almost flared when Mumanyi allegedly failed to answer critical questions posed to him by the creditors regarding when and how the creditors would get paid their dues.
“More than 45 creditors attended the meeting which was abandoned. We resolved to appoint a management committee comprising five members to assist Mumanyi to gather information and update us on the way forward. We are not happy because we want our money,” said one of the disgruntled creditors.
Mumanyi yesterday confirmed a creditors’ management committee had been set up.
“We will work together for two weeks to come up with the turnaround strategy which will protect the interests of all the creditors.”
Mumanyi said according to the balance sheet, the company was solvent and able to pay all its creditors if placed into final judicial management.