SA company gets court reprieve

SOUTH AFRICA-REGISTERED company Prisma Packaging has breathed a sigh of relief after the Supreme Court stopped a Zimbabwean company from settling an outstanding debt of R252 356,38 using a trading rate of US$1 to ZWL$1.

Supreme Court judges of appeal Justices Antonia Guvava, Felistas Chatukuta and Justice Mwayera set aside a judgment of the High Court that was granted in favour of the Zimbabwean company Nhimbe Fresh to pay ZWL$23 000 to offset a R252 356,38 debt.

The judges, however, ordered a retrial of the matter to allow Nhimbe Fresh to pay the debt using prevailing interbank rates.

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