Bank seeks Rushwaya’s incarceration over $174k debt

Tetrad Investment Bank, which is under provisional judicial management, has petitioned the High Court seeking the incarceration of Kadoma gold miner, Jameson Rushwaya over a $174 000 debt.

BY CHARLES LAITON

Through its lawyers, the bank recently issued summons for civil imprisonment against the miner, who is yet to respond to the litigation.

However, it is not clear in the court papers when and how Rushwaya borrowed the cash, but the bank claims the miner has failed to make good his debt despite several demands.

“You, the defendant (Rushwaya), is called upon to pay to the plaintiff (Tetrad Bank) the sum of
$174 012,95 with interest thereon at the rate of 23% per annum calculated from January 8, 2018 to the date of payment in full. You are required to pay this sum by virtue of a judgment obtained against you in the High Court at Harare on February 3, 2014. You are also ordered to pay collection commission in terms of the Law Society by-laws,” the bank said in its summons.

“If you fail to pay the sum specified above, you must appear before the High Court at Harare to explain why you have not paid it and to show cause why an order for your imprisonment should not be made on account of your failure to pay. You should bring with you evidence of your financial position, and it will be in your own interest to give the count of evidence. Your income from wages, salary or other earnings and any other income you may receive from any other source.”

According to the court papers, the court will conduct an enquiry into Rushwaya’s financial position and depending on the circumstances, it may not commit him to prison, but instead, give him further time to pay the sum due or direct him to pay it in instalments over a specified period.

“Unless you pay the plaintiff the sum specified above or unless the plaintiff accepts an offer of settlement which you have made to it, you must appear before the High Court … if you do not do so, a writ of personal attachment may be issued against you and you may be committed to prison,” the summons read.

Tetrad Investment Bank, which is under provisional judicial management, has petitioned the High Court seeking the incarceration of Kadoma gold miner, Jameson Rushwaya over a $174 000 debt.

Through its lawyers, the bank recently issued summons for civil imprisonment against the miner, who is yet to respond to the litigation.

However, it is not clear in the court papers when and how Rushwaya borrowed the cash, but the bank claims the miner has failed to make good his debt despite several demands.

“You, the defendant (Rushwaya), is called upon to pay to the plaintiff (Tetrad Bank) the sum of
$174 012,95 with interest thereon at the rate of 23% per annum calculated from January 8, 2018 to the date of payment in full. You are required to pay this sum by virtue of a judgment obtained against you in the High Court at Harare on February 3, 2014. You are also ordered to pay collection commission in terms of the Law Society by-laws,” the bank said in its summons.

“If you fail to pay the sum specified above, you must appear before the High Court at Harare to explain why you have not paid it and to show cause why an order for your imprisonment should not be made on account of your failure to pay. You should bring with you evidence of your financial position, and it will be in your own interest to give the count of evidence. Your income from wages, salary or other earnings and any other income you may receive from any other source.”

According to the court papers, the court will conduct an enquiry into Rushwaya’s financial position and depending on the circumstances, it may not commit him to prison, but instead, give him further time to pay the sum due or direct him to pay it in instalments over a specified period.

“Unless you pay the plaintiff the sum specified above or unless the plaintiff accepts an offer of settlement which you have made to it, you must appear before the High Court … if you do not do so, a writ of personal attachment may be issued against you and you may be committed to prison,” the summons read.

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