HomeNewsNoczim House up for grab

Noczim House up for grab

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THE High Court has ordered the sale of State owned petroleum company, National Oil Company of Zimbabwe (Noczim) House, to settle outsanding debts, it has emerged.

Report by Mernat Mafirakurewa , Acting Business Editor

According to a notice in the Press yesterday, Cliprunt Real Estate said the Deputy Sheriff had ordered the sale of the 1 000-sq metre structure.

“Duly instructed by the Deputy Sheriff of the High Court of Zimbabwe, we will be offering the following immovable property by public auction . . . on October 19 2012,” the real estate company said.

“In the mater between Netsai Masiyanise, Isaac Mhaka, Crispen Mashange and Clever Maodza versus National Oil Company of Zimbabwe, Elton Mangoma  in his capacity as Energy and Power Development minister and two others.

“The defendant’s rights and title to certain pieces of land situate in the district of Salisbury called (1) stand number 2178 Salisbury township measuring 595 square metres (2) Stand 2179 Salisbury township measuring 595 square metres otherwise known as Noczim House, Leopold Takawira Street, CBD, Harare.”

The property  is being sold to meet retrenchment packages for former senior managers, Masiyanise, Mhaka, Mashange and Maodza. The managers were forced out of Noczim.

Meanwhile, businessman Cecil Muderede and several companies are set to lose their properties worth millions of dollars as local banks tighten screws on loan repayments defaulters, it has been learnt.

Muderede whose Jaggers Msasa, property was attached and sold to recover millions of dollars owed to hundreds of retrenched employees, could lose a multi-million industrial premise located on 1 500 square metres with a three-bedroomed house and staff quarters, among others, to NMB bank.

Cliprunt said the properties would be sold on behalf of NMB to recover money owed by Shankuru Estates, CRCM Muderede. Although it could not be immediately established how much Muderede and his companies owed the bank, it is understood the property that would be sold includes four store rooms.

The multi-million dollar immovable properties would be sold on Friday after local banks through Cliprunt move-to recover loans extended to several high-profile personalities and companies.

As part of efforts to recover funds, POSB has been granted permission to dispose of properties belonging to Davecon Motors, Kamunhu Investment, AIM Streep Investments, E-One Computer Solutions, Nelson Chidzingwa and Caroline Chidzingwa, Borrowdale Timbers, Michael Gomo and Tendai Gomo. Afntech Engineering and Cosaka also owe POSB substantial amounts.

Other organisations seeking to recover funds include FBC, CBZ, African Banking Corporation, Stanbic Bank, Old Mutual Assurance, Econet Wireless and Homelink.

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