ZIMBABWE Football Association (Zifa) chief executive officer Jonathan Mashingaidze has defended the association’s financial position saying they were not insolvent as indicated in the Government Gazette dated September 25 2015.
BY SPORTS REPORTER
This comes in the wake of a case involving CBZ and Zifa, with Zifa president Cuthbert Dube cited as the respondent being listed under the Insolvency Act.
The government notice given in terms of section 47 of the under Insolvency Act, (Chapter 6:04), and case number 187/2014, stated that Dube is set to lose “certain piece of land situated in the district of Salisbury called Stand 44 Midlands Township of Midlands measuring 9 859 square metres”.
The property will be going under the hammer on October 2 at 10am at Raylton Sports Club in Harare.
Responding to the insolvency status, Mashingaidze said they never applied for bankruptcy as an association.
“Things have been tough, yes I know, but as an association, we never applied for insolvency. They have a case against the association in which the president used his house as collateral, but I don’t know why the association now comes under companies that are insolvent,” Mashingaidze said.
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The chapter reads: “Notice of Intention to alienate a business or the goodwill of a business or any goods or property forming part of a business, otherwise than in the ordinary course of the business.”
The Gazette reads: Sale is conducted in terms of the rules of the High Court, which provides that it shall be without reverse but subject to the condition that the sheriff requires to be satisfied that the highest price offered is reasonable, having regard to the circumstances of time and place and the state of property.”
Yesterday, Mashingaidze said, the association’s leadership together with the Sports ministry officials met CBZ representatives in an effort to stop the sale of the house.
“We have been in meetings with Ministry officials and CBZ representatives trying to stop the sale of the property in question,” Mashingaidze said.
Dube could not be reached for comment as he was still locked in yet another meeting last night.
