HomeNewsMuchechetere faces $482k bank loan lawsuit

Muchechetere faces $482k bank loan lawsuit

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Zimbabwe Broadcasting Corporation’s (ZBC) former chief executive officer, Happison Muchechetere’s woes continue to mount after a local financial institution, CBZ Bank filed a $482 916,35 lawsuit against him over an unpaid agricultural loan.

BY CHARLES LAITON

Muchechetere, who was relieved of his duties at the helm of the national broadcaster following allegations of swindling his paymasters of over $800 000, is still awaiting criminal trial for procuring an OB Van without going to tender sometime in 2013.

According to the summons issued in December last year, CBZ said it offered a $294 764 agricultural loan to Muchechetere on September 4, 2009.

However, Muchechetere failed to service the loan and on October 5 last year, the debt had ballooned to $482 916,35 including interest charges.

“As of October 5 the amount outstanding on the defendant’s [Muchechetere] account was the sum of $482 916,35 as more fully appears [in] a copy of the induplum schedule attached hereto and it is made up as follows; cumulative unpaid capital $295 763,99 and cumulative unpaid $188 152,36,” the bank said.

“Despite repeated demand the defendant has refused and/or neglected to pay the sum of $482 916,35 and as such the defendant has breached the terms of the facility.”

Meanwhile, on January 12 this year, the bank filed a chamber application for a default judgment arguing Muchechetere

had failed to respond to the summons on time and remained barred according to the High Court rules.

“The defendant having been duly served with summons on December 7, 2016 … the period for the entry of appearance to defend by the defendant having expired on December 21, 2016, defendant failed to enter an appearance to defend and, therefore, is barred … judgment be granted in terms of the summons as per the attached draft order,” the bank said.

But, according to the court papers, Muchechetere responded to the summons on December 16, 2016 and a copy of his response was submitted at the registrar’s office.

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