Interfin ordered to return shares

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THE High Court has ordered Interfin Securities to return to Remo Investment Brokers share certificates it lodged with different firms as security for a loan, within three days, failure of which the Deputy Sheriff will seize them from wherever they are.

CHARLES LAITON

High Court judge Justice Maxwell Takuva also slapped Interfin with costs at a higher scale castigating the securities firm for wasting the court’s time.

The order by the judge reads: “As regards the costs, I am of the view that those who abuse the courts by bringing and defending hopeless cases thereby compelling the other party to incur legal costs should be made to pay costs at a higher scale.”

“The respondent is compelled to return immediately the following share certificates: CBZ, Old Mutual, Dairibord Zimbabwe Limited and TA Holdings, within three days of this order failing which the Deputy Sheriff is authorised to seize the share certificates and shares listed above from the respondent or from whoever may be in possession of the said certificates and shares.”

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