Redan Petroleum Restores Face Value Of Coupons After Threats Of Legal Action

Redan Petroleum gave in to demands by its customers to avail fuel to coupon holders at face value. As a result, the customers have dropped the lawsuit they filed against the fuel supplier.

The legal team representing Redan customers, Alex Majachani of Alex F. and Associates confirmed the developments to

We will not be pursuing the case anymore following the assurance we received from the fuel company’s legal representatives who wrote to us confirming that they had restored the coupons’ value.

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Attorneys representing Redan Petroleum, Mawere and Sibanda Commercial Lawyers also confirmed the developments. They wrote:

The debasement of coupons was caused by circumstances beyond control as the abrupt increase of fuel import duty was unexpected.

However, to show its commitment to deliver on its obligations to its customers, our client engaged relevant authorities.

We are pleased to advise that our client has managed to obtain a tax relief and your clients shall redeem their coupons at full value.

Redan capitulated after lawyers representing the customers issued a 72-hour ultimatum to restore the face value of the coupons. Redan had initially devalued the coupons after the government hiked the price of fuel by over 150 per cent.



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