HomeLocal NewsMkondo’s estate executor fails to draw creditors, debtors list

Mkondo’s estate executor fails to draw creditors, debtors list

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THE late prominent businessman Paul Mkondo’s eldest son, Nhamoinesu, risks being stripped of his duties as executor of his father’s estate after he allegedly failed to meet statutory obligations causing much prejudice to the estate’s creditors, NewsDay has learnt.

BY PAIDAMOYO MUZULU

Mkondo was appointed executor of the estate in May 2013, but has, according to documents shown to NewsDay, repeatedly failed to draw up the full list of the estate, its creditors and debtors thereby delaying the distribution process.

The late Mkondo’s estate included Paul Mkondo Insurance Brokers, Inyathi Farm in Mazowe and its farming implements and title deeds, a house in Marimba Park, a residential stand in Glen Norah, a fleet of vehicles, and commercial properties in the central business district.

Last Friday, Assistant Master of the High Court Simon Madi wrote to Mkondo giving him a final warning to wind up the estate or risk being replaced by an independent executor.

“This letter serves as a final notice to you and should you not attend to the queries raised on or before August 7, 2015, your appointment as an executor will be withdrawn for non-compliance and an independent executor appointed in your stead,” Madi said.

He added: “I have noted with great concern that regardless of you being given timelines to perform your statutory obligations, you seem to be missing your deadlines which appears prejudicial to other interested parties like creditors.

“You were given up to June 10, 2015 to attend to the amendment of the interim distribution account you had lodged and file vouchers in support of assets, but to date nothing has been done.”

Some of the estate’s creditors include CBZ, AgriBank and MetBank.

Mkondo could not be reached for comment as his mobile phone went unanswered.

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