Dynamos Face Seizure Of Financial Sources As It Owes CBZ Over $247 505

Dynamos Football Club is in a deep financial hole as it has accumulated debts amounting to over $247 505. A local financial institution, CBZ, has filed court papers in its bid to recover the loan from seven years ago.

CBZ Bank’s head of recoveries Gift Chinyamutangira said in his affidavit:

This is an application for an order that any money at present due or becoming due in the future to the judgment debtor (Dynamos) by the garnishee namely Steward Bank (Pvt) Ltd, African Banking Corporation of Zimbabwe Limited trading as BancABC, NetOne (Pvt) Ltd, and Nyaradzo Life Assurance Company or any other third party within the jurisdiction of this honourable court, be attached in terms of Order 42, Rule 337 of the High Court, 1971.

More: Newsday

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