Moonlight chief executive officer Chomi Makina has reached an out-of-court settlement with a local car selling company, Premier Auto Service, after the latter had taken him to court over a $28 500 outstanding debt for a Jaguar XF he bought from the firm.
The two parties met last Friday and agreed that the matter should not be dealt with in court, but rather be settled through a deed of settlement, which was presented before High Court judge Justice Tawanda Chitapi.
According to Premier Auto, Makina, cited as the respondent in the matter, entered into an agreement with the vehicle trader in April 2013 for the supply of the Jaguar XF, which was delivered to him for $71 550.
However, after paying the deposit, Makina was alleged to have made erratic payments over several months, leaving a balance of $28 500, leading Premier Auto to approach the High Court seeking to recover the money it was owed.
But, the two parties resolved to deal with the matter between themselves and signed a deed of settlement dated February 26, 2016.
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The deed of settlement reads in part: “The defendant (Makina) shall pay the plaintiff (Premier Auto) the sum of $28 000 together with interest thereon at the prescribed rate from the date of summons to the date of payment in full.
“In the event that the defendant furnishes proof of payment to the plaintiff of $2 000 made on May 12, 2014 and July 1, respectively, an amount of $4 000 shall be deducted on the settlement.
“The defendant shall pay the settlement amount in 15 equal instalments of $2 097 commencing on or before April 29, 2016 and terminating on or before April 28, 2017.