🇿🇼ZimbabweSouthern Africa
High Court nullifies US$200,000 mining equipment sale by Messenger of Court
via NewsDay Zimbabwe7 min read
The High Court has nullified the sale of US$200,000 worth of mining equipment belonging to Lonosphere Investments, which was sold by the Messenger of Court for US$13,000. Lonosphere had taken the Messenger of Court for Bindura, Ruzvidzo Gonye, Brian Dahwa, Phibion Savanhu, RM Kambewu, and Mutape to court to confirm a provisional order. The court declared the sale, conducted on October 24, 2025, null and void, and ordered the Messenger of Court to release the assets and restore them to Lonosphere. Gonye had obtained a default judgment against Lonosphere for an outstanding balance of US$12,240 for chrome concentrate. Despite a deed of settlement, Lonosphere defaulted, leading Gonye to instruct the Messenger of Court to execute the judgment. Mining equipment was attached on April 25, 2025. Before the sale, Lonosphere's legal practitioner, Steadfast Mazorodze, notified the Messenger of Court that the judgment debt had been paid. However, the sale proceeded, and the assets were sold for US$13,017. High Court judge Justice Regis Dembure ruled that the Messenger of Court was notified of the payment and should have stopped the sale, stating that proceeding with the sale was unlawful and that the goods were sold at an unreasonably low price without a proper valuation. Justice Dembure described the Messenger of Court's conduct as appalling, mala fide, reckless, and an abuse of the court process.
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This summary was AI-generated from a story originally published by NewsDay Zimbabwe.
Zimbabwe is pursuing a US$150 million loan from the African Development Bank AfDB to tackle its debt default. This initiative follows earlier discussions in April where authorities, led by Ncube, engaged with countries including the UK, Japan, and Germany to secure US$2.5 billion. The country is also focusing on economic growth, evidenced by a US$650 million investment vision and efforts to boost value-added exports, which have contributed to a narrowing trade deficit. Additionally, Zimbabwe is setting in motion plans for a US$25 million climate recovery boost. Other developments include the appointment of Rukweza as the Lithium Association of Zimbabwe chair and FBC Holdings achieving ISO/IEC 27001:2022 certification.
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Must ReadZimbabwe is reportedly seeking a loan of US$150 million from the African Development Bank AfDB. This financial assistance is intended to help the country address its debt default situation. The information was published by AMH, an independent media house in Zimbabwe.