MDC-T bails out broke Ts­van­gi­rai

Chronicle (Zimbabwe) - - National News - Daniel Ne­mukuyu

THE op­po­si­tion MDC-T has sac­ri­ficed three of its ve­hi­cles to save the party leader Mr Mor­gan Ts­van­gi­rai’s Strathaven house from be­ing auc­tioned over $55 000 owed to a lo­cal bank.

The broke politi­cian had his prop­erty, Stand Num­ber 2 Strathaven Town­ship, ear­marked for at­tach­ment over non-pay­ment of a loan ex­tended by AfrAsia Bank Zim­babwe Lim­ited three years ago.

The stand mea­sures 4 689 and is reg­is­tered un­der Deed of Trans­fer Num­ber 9927/2000.

Ac­cord­ing to a writ of ex­e­cu­tion ob­tained by AfrAsia Bank, the Sher­iff of the High Court was di­rected to at­tach all mov­able prop­erty at the house.

If the mov­able prop­erty was not suf­fi­cient to set­tle the debt, the Sher­iff was di­rected to at­tach the im­mov­able prop­erty.

While the prop­erty was fac­ing the ham­mer, MDC-T lead­er­ship through its com­pany called La­phonic In­vest­ments sit­u­ated at Har­vest House in Harare, came to the politi­cian’s res­cue and of­fered three party ve­hi­cles for at­tach­ment and ex­e­cu­tion. The three ve­hi­cles are: 1. Toy­ota Toyoace (ADM 9210) 2. Isuzu KB250 (ADA 1750) 3. Toy­ota Dyna (ACO 0160)

It is be­lieved that one of the ve­hi­cles was be­ing used by the party’s Harare province to ferry in­stru­ments.

Our Harare Bureau un­der­stands that most of MDC-T’s prop­erty is reg­is­tered un­der the name of La­phonic In­vest­ments, which is run by MDC-T big­wigs and is lo­cated at the party’s head­quar­ters at Num­ber 44 Nel­son Man­dela Av­enue.

Mr Dou­glas Mwon­zora, Ms Pau­rina Mpariwa, Mr Charlton Hwende and Mrs Theresa Makone met and re­solved to bail out the trou­bled politi­cian.

Mr Mwon­zora, in his ca­pac­ity as La­phonic In­vest­ments board sec­re­tary, wrote to the Sher­iff of the High Court in­form­ing him of the res­cue plan.

“The com­pany hereby vol­un­tar­ily and ir­re­vo­ca­bly cedes the afore­said mo­tor ve­hi­cles to sat­isfy the AfrAsia Bank debt un­der HC1777/15.

“The mov­able prop­erty at­tached by the Sher­iff be re­leased from at­tach­ment un­der HC1777/15,” reads part of the let­ter dated Au­gust 18, 2016.

The ve­hi­cles have since been taken to Rev­e­la­tion Auc­tions where they await the auc­tion date.

On Septem­ber 12, 2013 Mr Ts­van­gi­rai signed a loan agree­ment with the bank and an over­draft fi­nance fa­cil­ity of $64 245 was ad­vanced to him.

In terms of the agree­ment, Mr Ts­van­gi­rai should have cleared the debt by Oc­to­ber 15, 2013 but he failed.

Mr Ts­van­gi­rai only paid $24 000 but failed to pay the bal­ance.

After charges and in­ter­est were fac­tored in, the op­po­si­tion leader re­mained in ar­rears to the tune of $55 000.

Sawyer and Mkushi Le­gal Prac­ti­tion­ers ap­peared for the bank in the mat­ter.

Mr Mor­gan Ts­van­gi­rai

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