Ex-Zimra boss sued over $129 000 debt 

Source: Ex-Zimra boss sued over $129 000 debt – DailyNews Live

Shamiso Dzingire      25 September 2018

HARARE – Former Zimbabwe Revenue Authority (Zimra) Commissioner General
Gershem Pasi has been dragged to the High Court over a $129 000 debt he
allegedly owes African Banking Corporation of Zimbabwe (BankABC).

According to High Court papers, Pasi was extended a $250 000 loan by the
bank in January 2014 and has since failed or neglected to repay the loan

The loan was to accrue 15 percent interest per annum and in the event that
Pasi defaults payment of any of his installations, a 25 percent interest
per annum would be charged.

The bank, represented by its country manager Daniel Muganiwe said the loan
agreement stated that should Pasi fail to make payment of any instalment
of any amount due in terms of the facility the whole amount immediately
becomes payable and due.

“The defendant defaulted on making due and punctual repayments under the
written memorandum of lease agreement and as at February 2018, is in
arrears in the sum of $129 846.26. Despite demand, the defendant has
refused, neglected or failed to pay the plaintiff the sum of $129 846.26,”
said Muganiwe.

The bank is also claiming legal costs on a legal practitioner and client
scale plus collection commission.

Through his lawyers Mushoriwa Pasi Corporate Attorneys, Pasi said the
cause of action in which the summons and application is based is improper
and incomplete.

In his opposing affidavit Pasi said that the facility which was extended
to him was not in mere isolation but was negotiated between BankABC and
his former employer, Zimra.

Pasi said: “An agreement was entered into between the two in terms of
which employees like myself were entitled to purchase vehicles through the
line of credit, and 60 percent of the repayments due in terms of the line
of credit were to be paid by the employer while I was to be responsible
solely for the remaining 40 percent balance.”

The former Zimra Commissioner General also disputed the amount claimed by
the bank, saying it does not add up and that a lot is being hidden in the
detail of the claim.

He said: “Applicant claimed that I had a facility of up to $250 000. The
next allegation is that I defaulted on payments and that I am liable to
pay the sum of $129 846.26. There is no averment as to the amount that I
allegedly borrowed in terms of the facility as the sum of $250 000 is only
a limit of the facility.

“There is also no allegation as to how much I paid in terms of the
facility and how much was paid by my then employers since 2014 when the
transaction was consummated.”

He claimed he has paid $239 295.22 and by his calculations, he should have
completed paying the debt.

“It is therefore my contention that the claim is not in conformity with
the rules of this honourable court in its lack of a concise breakdown of
the capital lent, payments made, interest charged and financing charges,”
Pasi said.

However, BankABC has since applied for summary judgment, arguing that Pasi
has “no defence at law and the appearance to defend entered by the
defendant is simply for the purposes of buying time and to delay the
finalisation of the matter.”