The High Court has granted an order compelling the Zimbabwe
Football Association (Zifa) to pay back
US$1,2 million to Postal and Telecommunications Regulatory Authority of
Zimbabwe (Potraz) borrowed to send the Warriors to Africa Cup of Nations in
Gabon in 2017.
High Court Judge Justice Owen Tagu granted the consent
order. Zifa was given US$225 000 when the Warriors travelled to Guinea for an
Afcon qualifying match and US$1 million for the tournament.
However, Zifa have failed to settle the debt for the past
three years despite demand by Potraz.
Former Zifa’s president, Phillip Chiyangwa, in his capacity
as the then Zifa board chairperson, executed an acknowledgement of debt in
January 2017.
“The plaintiff’s (Potraz) claim is based on an
acknowledgement of debt executed by Phillip Chiyangwa in his capacity as the
defendant’s board chairman, and dated January 6, 2017. In terms of the document
an amount of $1 225 000 together with interest at the rate of 5 percent per
annum is payable to the plaintiff,” read the court papers.
According to the acknowledgement of debt Zifa requested the
loan to facilitate travel, accommodation and participation costs of the
national soccer team at the Africa Cup of Nations tournament in Gabon.
“The debtor shall pay the capital sum in 24 instalments of
not less than US$46 666 the first of which is payable on or before February 28,
2017 with each subsequent instalment paid before the last day of every
succeeding month,” reads the document.
“All payments made by the debtor will be appropriated
firstly towards payment of interest and lastly in reduction of the capital
sum…if any single instalment is not paid strictly on due date thereof, then the
creditor will have the right to claim payment of the full balance of the
capital sum and interest on the outstanding amount.”
Zifa was supposed to clear the debt by January 1 this year.
Potraz approached the High Court seeking an order compelling Zifa to pay the
debt with interest at the rate of five percent per annum from February, 2017 to
date of full payment. Herald
0 comments:
Post a Comment