Former Vice President Joice Mujuru has been forced to
settle her debt amounting to US$452 000 with Peppy Motors that supplied
tractors to her company, Ruzirun Investments, five years ago.
Mujuru was dragged to the High Court as Peppy Motors,
represented by its lawyer Mr Tapson Dzvetero, sought to recover the money it
paid to Mujuru’s bank, Stewart Bank.
She had entered into a loan facility agreement in terms of
which Steward Bank advanced a capital sum of US$350 000 for the purchase of
various tractors from Peppy Motors.
The maturity date was July 31, 2013. Sarbrina and Tony
Sarpo of Peppy Motors bound themselves as surety to the loan advanced to Mujuru
by her bank.
In its claim filed at the High Court, Peppy Motors now
seeks an order compelling Mujuru and her company Ruzirun Investments (Pvt) Ltd,
to settle the debt now standing at US$387 583.22.
During a pre-trial conference before Justice Priscilla
Munangati-Manongwa, Mujuru’s lawyers concede they had no defence and chose to
hammer a settlement.
This will give the former VP a chance to liquidate her debt
with Peppy Motors. According to the deed of settlement, Mujuru will now pay
US$452 000 with effect from June 30 this year.
“Judgment with cost on a legal practitioner’s scale be and
is hereby entered against the first and second defendants (Mujuru and Ruzirun
Investments) jointly or severally the one paying the other to be absolved from
the payment of (a) US$226 000 being the capital debt due to the plaintiff
(Peppy Motors), (b) US$226 000 being the interest on capital debt due to
plaintiff,” the consent order read.
It was also agreed that the capital debt, interests and
costs of suit shall be paid in terms of a deed of settlement executed between
the parties with effect from June 30, this year. Herald
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