MDC FAILS TO REPAY $286K

The MDC has been dragged to the High Court for failing to pay back $286 000, advanced to it by a local firm in 2016.

According to court papers, sometime in 2016, the MDC borrowed $331 800 from Ishline Investments (Private) Limited) and undertook to repay the debt that same year.

But having made some part payment of the debt, $286 000 remained due and owing to Ishline. “Despite demand, defendant (MDC) has failed, refused to repay the outstanding $286 000,” the court was told.

Ishline is the applicant in the matter, while the MDC is cited as the respondent. Besides the amount, the company is also demanding interest at the prescribed rate from the date of the summons to the date of full payment, as well as the cost of the suit.

The country’s largest opposition political party has not yet responded to the court summons, which were filed before the court last Thursday.

According to the summons, the MDC has 10 days within which to file a response.
“If you wish to oppose any of the plaintiff’s claims, you must, enter an appearance to defend by making an appropriate entry in the appearance book kept in the office of the registrar of the High Court of Zimbabwe at Harare within 10 days after service of this summons (Saturdays, Sundays and public holidays are not counted as part of this 10-day period, nor is the day on which the summons was served).

“If you do not enter appearance to defend, the plaintiff’s claims will be heard and dealt with by the High Court without further notice to you,” reads part of the summons. The matter has not yet set down for hearing. Daily News

Posted in: NEWS