HH 084-18 INFRASTRUCTURAL DEVELOPMENT BANK OF ZIMBABWE versus EASY CREDIT (PRIVATE) LIMITED and Ors

INFRASTRUCTURAL DEVELOPMENT BANK OF ZIMBABWE

versus

EASY CREDIT (PRIVATE) LIMITED

and

JUSTIN ARTWELL TICHIWANGANA

and

MAXINE MANYOWA

and

SHINGIRAYI MAFARA

and

KUDAKWASHE ZUMBIKA

and

TINASHE HERBERT DZARAMBA

and

BRUCE TARUVINGA

 

 

HIGH COURT OF ZIMBABWE

TAGU J

HARARE, 31 January, 1 & 28 February 2018

 

 

Civil Trial

 

O Mutero, for plaintiff

P Kawonde, for defendants

 

      TAGU J: The plaintiff issued summons against the defendants claiming jointly and severally the one paying the other to absolved payment of US$501092.34 being capital, US$54 695,59 being interest, US$180.00 being Bank charges, interest on the sum of US$501 092.34 at the rate of 23% per annum subject to variation from time to time with effect from the 16th of August 2016 to date of payment and costs of suit on a legal practitioner and client scale and collection commission as provided for under the Law Society of Zimbabwe by –laws (1982).

            The facts are that the plaintiff is Infrastructure Development Bank of Zimbabwe, a body corporate duly constituted in accordance with the laws of Zimbabwe. The first defendant is Easy Credit (Private) Limited, a company incorporated in accordance with the laws of Zimbabwe. The second to the seventh defendants are directors of the first defendant. In or around August 2015 and at Harare the plaintiff and the first defendant entered into a written agreement in terms of which 

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