Gideon Gono loses court case against Trevor Ncube’s company

Alpha Media Holdings (AMH) (Pvt) Ltd has won a default judgment over a $247 000 debt owed to the company by Globeflower (Pvt) Ltd, which is owned by former Reserve Bank governor, Gideon Gono.

Appearing before High Court judge, Justice Amy Tsanga, Globeflower had applied to have the matter postponed again arguing that their lawyers were not available for the matter to proceed. However, AMH lawyer, Mordecai Mahlangu opposed the application arguing that the matter had been postponed on numerous occasions at the instance of Globeflower and it was, therefore, unreasonable to continue deferring the matter.

In 2009, Globeflower entered into an agreement with AMH to buy 100% shareholding of Pitrace Investments for $675 000, which has a 25% stake in Tunatemore Printers. Globeflower paid $428 000 leaving a balance of $247 000, which the company was now refusing to pay and instead was demanding a refund of money already paid. AMH’s lawyer says the judgement means they are  entitled to the outstanding balance, costs of suit and 5% interest from February 28, 2010 when the last instalment was due. They have also threatened to attach property if Gono’s company does not pay.

More: NewsDay

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