Source: Bank sues Chombo’s ex-wife $157 000 | The Herald November 15, 2016
Daniel Nemukuyu Senior Court Reporter—-
HOME Affairs Minister Ignatius Chombo’s former wife Ms Marian Chombo (nee Mhloyi), who is fighting to control New Allan Grange Farm in Raffingora, has been slapped with a $157 000 lawsuit over an outstanding bank loan secured to finance farming operations some seven years ago.The High Court last week threw out Minister Chombo’s application to evict Ms Chombo, a development that confirmed her authority to occupy and use the pending determination of the farm dispute by the Supreme Court.
CBZ Bank Limited is claiming outstanding capital amounting to $78 469 plus interest to the tune of $78 469. The bank is also claiming $290 in bank charges.
On October 21, 2009, Ms Chombo entered into a written loan agreement with the bank. She operated a bank account named Marian Chombo, trading as New Allan Grange Farm.
In terms of the agreement, Ms Chombo got an overdraft loan of $90 000 to finance her farming operations at New Allan Grange Farm.
The bank contends that the businesswoman breached the agreement by failing to repay the loan by July 31, 2010 as agreed.
Interests were factored in, in terms of the agreement and by October 5 this year, the debt had ballooned to $157 229.
Despite demand, the bank argued, Ms Chombo has failed, refused or neglected to pay the debt. To that end, CBZ Bank instructed its lawyers Gutu and Chikowero Legal Practitioners to issue out summons claiming the debt.
Ms Chombo is yet to respond to the summons.