BY DESMOND CHINGARANDE
IRVINE’S Zimbabwe Limited has sued Innoe Fraser Investments of Zvishavane after the company failed to settle a $1,6 million debt.
The company claims that Innoe Fraser official, Innocent Ndlovu, signed an acknowledgement of debt on March 25 this year.
According to the summons filed at the High Court, the terms of the agreement were that Ndlovu was supposed to pay the debt in full on or before May 31, 2021.
Ndlovu would be held liable for legal costs on a legal practitioner and client scale, as well as any collection commission charged by the creditor’s lawyers.
The parties also agreed that Irvine’s would sue for restitution if Innoe Fraser failed to pay.
The matter is yet to be heard.
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