via Butau fails to settle US$100 000 debt | The Herald January 30, 2015
National Assembly Member for Mbire David Butau and his business associate are failing to settle a more than US$100 000 debt for fuel supplied to their company on credit by Petrotrade (Pvt) Ltd two years ago.
Butau and his business partner George Hasve, entered into an agreement with Petrotrade to supply their company Gasport Oils (Pvt) Ltd on credit.
According to the agreement, Gasport Oils would pay in full for fuel within 30 days from the date of delivery.
After the agreement, Gasport Oils took delivery of fuel amounting to US$79 999 on December 14 2012, which had not been paid for to date.
Butau and Hasve offered surety in the event that Gasport failed to meet its obligation to settle the payment.
This prompted Petrotrade to approach the High Court a year after the deal for an order compelling Gasport Oils to settle its debt.
Justice Loice Matanda-Moyo granted a default judgment after the respondents failed to come to court to defend the claim.
The judge also ordered Butau, Hasve and their correspondent Hyperbrand Investments (Pvt) Ltd to pay an interest of 18 percent per annum calculated from December 14, 2012 to date of full payment.
Through its lawyer, Mr Dumisani Kufaruwenga of Dzimba, Jaravaza and Associates, Petrotrade has since obtained a writ of execution against the debtors’ movable property.