HH 466-18 NMB BANK LIMITED v THE TRUSTEES FOR THE TIME BEING OF CORNERSTONE TRUST & Ors

NMB BANK LIMITED

versus

THE TRUSTEES FOR THE TIME BEING OF CORNERSTONE TRUST

and

JULIUS TAWONA MAKONI

and

THE TRUSTEES FOR THE TIME BEING OF RYVONNE TRUST

 

 

HIGH COURT OF ZIMBABWE

ZHOU J

HARARE, 13 March 2017, 16 October2017, 8 November 2017, 6, 7, 8, 11, & 12 December 2017 & 8 August 2018

 

 

Civil Trial

 

T. Mpofu for the plaintiff

T. Magwaliba, later T. Zhuwarara for the defendants

 

ZHOU J: The plaintiff, a commercial bank, claims against the three defendants payment of a sum of money amounting to US$1 105 748.90 together with interest thereon at the rate of 15% per annum calculated from the 9th September 2015 to the date of payment in full, such interest to be calculated monthly and in advance and capitalized.  The plaintiff also claims collection commission and costs of suit on the legal practitioner and client scale, as well as an order declaring a certain immovable property described in the summons as a certain piece of land situate in the District of Salisbury called the Remainder of Lot 6 of Reitfontein, measuring 1, 2129 hectares to be specially executable.  The claim is for money advanced to the first defendant pursuant to loan and overdraft facilities and in respect of which the second and third defendants are said to have executed deeds of suretyship and guarantorship.  The claim is contested by all the defendants. The 

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2018