Irvine’s Zimbabwe (Pvt) Ltd has approached the High Court seeking to compel Valhalla Chickens (Pvt) Ltd’s liquidator, Winsley Militala, and another company called Robbyryan (Pvt) Ltd, to settle a $1,36 million debt owed to the chicken and egg suppliers or risk losing three properties they surrendered as surety.
BY CHARLES LAITON
Irvine’s issued the summons on August 24, 2017 through its lawyers Messrs Wintertons Legal Practitioners while suing Militala in his official capacity as representing the firm that was placed under liquidation on August 7, 2016.
Irvine’s said prior to the placement of Valhalla Chickens under liquidation, it had entered into an agreement with Valhalla Chickens pursuant to which, as security for the due and timeous payment of its indebtedness, it surrendered three properties as surety.
The properties are cited as stand 955 Mandara Township measuring 3 106 square metres, stand number 80 Mandara Township of Lot 6A of Mandara measuring 787 square metres and stand 964 Mandara Township measuring 3 893 square metres.
“As of November 4, 2016, the first defendant (Valhalla) was indebted to plaintiff (Irvine’s) in the sum of $1 364 393, being the balance outstanding in respect of chickens and eggs sold and delivered by plaintiff to the first defendant …. during the period extending from January 2014 to August 2015,” Irvine’s said.
“The first defendant is now under liquidation and to date, only a dividend of $88 586 has been paid out, leaving the first defendant indebted to plaintiff in the sum of $1 275 807.”
According to the court papers, in satisfaction of the obligation to provide collateral security, Valhalla Chickens and Robbyryan furnished Irvine’s with the original title deeds to the immovable property and the security had not been released.
“The proceeds from liquidation of the first defendant’s assets will not be sufficient to discharge the first defendant’s indebtedness to plaintiff and in the circumstances, it is necessary that the security provided by the first and second defendants be realised in partial discharge of the secured debt,” Irvine’s said.
The cited defendants are yet to respond to the lawsuit.