Mujuru Ordered To Pay US$70 000 To Dubai-based Firm

High Court judge Justice Amie Tsanga has ordered former Vice President Joice Teurai Ropa Mujuru to pay a United Arab Emirates-based company, Suzane General Trading JLT (Pvt) Ltd, US$70 000.

The payment is compensation following the collapse of a joint venture agreement signed between the parties over eight years ago.

Justice Tsanga also ordered Mujuru to settle the debt within a seven-day period counting from the date of the granting of the court order being December 4, 2019. Justice Tsanga ruled:

Whereupon after reading documents filed of record and hearing counsel, it is ordered that the second defendant (Mujuru) be and is hereby ordered to pay the plaintiff (Suzane General Trading) the sum of $70 000 together with interest at the prescribed rate from the date of the issuance of summons to the date of full payment.

In the lawsuit, Mujuru was cited as the second defendant together with International Travel Shops Africa (Pvt) Ltd, and one Tirivanhu Mudariki.

Court papers indicate that on November 16, 2011, the Dubai firm entered into an agreement with International Travel Shops Africa (Pvt) Ltd, Mujuru and Mudariki which they termed a share sale and management agreement.

The Dubai firm then paid US$150 000 for the purchase of goodwill and advanced a loan of US$50 000 to both Mujuru and Mudariki.

According to the firm, following a breach of clause 7 of the principal agreement by International Travel Shops Africa (Pvt) Ltd, the parties agreed in principle that the envisaged joint venture had irretrievably broken down.

The matter was subsequently referred to arbitration where Mujuru was ordered to compensate the Dubai-based firm.

More: The Standard


Quick NetOne, Telecel, Africom, And Econet Airtime Recharge

If anything goes wrong, click here to enter your query.

News On WhatsApp

Tap to join WhatsApp Group (no discussions)
https://chat.whatsapp.com/Ecx9DQoUNhjD2jpMiQeVQn

If you find the group full, please see the WhatsApp page to let us know.

Comments

Back to top

Write a Comment

Your email address will not be published.