Source: Mujuru fails to pay $387k for tractors – DailyNews Live
Tendai Kamhungira 5 April 2018
HARARE – Former vice president and National People’s Party (NPP) leader
Joice Mujuru has been dragged to the High Court for failing to
pay $387 000 in a tractors deal.
Peppy Motors (Private) Limited, trading as Agritech, Sabrina Sarpo and
Tony Sarpo are the complainants, while Mujuru, Ruzirun Investments
(Private) Limited and a bank (name withheld) are cited as respondents.
The court heard that Agritech entered into a loan facility agreement with
the bank in 2012, in which it demanded $350 000 for the purchase of
various tractors. According to court papers, the maturity date for the
loan facility was July 31, 2013 and the Sarpos bound themselves as
sureties to the facility.
“On July 25, the tractors which were purchased by the first plaintiff
(Agritech) using the loan facility were in turn sold and bought from the
first plaintiff by the second defendant (Ruzirun Investments) represented
by the first defendant (Mujuru) in terms of which the final payment to the
first plaintiff would be due by April 2015 and in terms of which there
remained an outstanding balance of $226 000 upon which an agreed monthly
interest charge of 23 percent per annum would be charged,” the court
heard.
According to court papers, Mujuru paid $10 000 to the bank and did not
make any further payments.
The Sarpos are now seeking an order for them to be replaced by Mujuru and
her company as debtors to the bank and pay the outstanding $387 583, 22.
In the alternative, the Sarpos are seeking “an order that first and second
defendants, jointly and severally pay to the first plaintiff as
represented by the second and third plaintiffs the capital sum of $226 000
due in terms of an agreement of sale between the parties dated 25th July
2014.
“An order that first and second defendants, jointly and severally pay to
the first plaintiff as represented by the second and third plaintiffs
interest in the amount of $169 821, 77 due in terms of an agreement of
sale between the parties dated 25th July, 2014.”
Mujuru has not yet respondent to the application.
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