Croco Motors Sues Zimbabwe Cricket Over $2.5 Million Debt

 

Zimbabwe Cricket Union has been taken to the High Court by Croco Motors after allegedly failing to settle a debt of $2 560 000 from 2015. In its court papers, Croco Motors says

On June 11, 2015, the defendant (Zimbabwe Cricket Union) acknowledged its liability to the plaintiff (Croco Holdings) in the sum of $2,8 million. In terms of the acknowledgement of debt, the defendant undertook to repay the sum of $240 000 through the provision of cricket boxes on lease for a period of 25 years, leaving a balance due and owing by the defendant to the plaintiff in the sum of $2 560 000,” Croco Motors said in its declaration.

In 2016 and early 2017, the defendant acknowledged its indebtedness to the plaintiff in the sum of $2 560 000. Despite demand, the defendant has failed to pay the sum of $2 560 000, which amount is now due and payable.

The cricket union is yet to respond.

More: Daily News

 

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