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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Zimbabwe Cricket UnionHigh CourtCroco Motors

Zimbabwe Cricket (formerly Zimbabwe Cricket Union) is the cricket administration body in Zimbabwe. The body runs the Zimbabwe national cricket team and organises test tours as well as facilitating domestic cricket development. Read More About Zimbabwe Cricket Union

The High Court of Zimbabwe is one of the Superior Courts of Zimbabwe. The High Court deals at first instance with all high value and high importance cases. It also has a supervisory jurisdiction over all subordinate courts and tribunals. Appeals from the High Court... Read More About High Court

Croco Holdings is a Zimbabwean company which owns several other companies including, Croco Motors, Doves, Dulys Holdings and others companies. The company was founded in July 2002 by Moses Chingwena and his wife, Anne-Marie Chingwena. In September 2019, Croco Motors' bank accounts in Zimbabwe were... Read More About Croco Motors

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