HARARE, My 13 (NewsDayLive)- The wrangle over ownership of Zimbabwe's leading chrome mining and smelting company Zimasco has taken a new twist with the Supreme Court dismissing an appeal against an interdict order barring lawyer Wilson Manase from operating as the firm's corporate rescue practitioner.
This effectively means that the High Court order issued early this year in favour of Zimasco remains binding pending hearing of its challenge to the authenticity of an earlier order appointing Manase as the company 's corporate rescue practitioner.
Manase has been cited as one of the lawyers pushing for Kwekwe businessman Shephard Tundiya to take over Zimasco, citing viability challenges.
According to court documents, sometime early this year Manase fraudulently obtained a High Court declaring him corporate rescue practitioner for Sinosteel Zimasco (Pvt) Ltd, a separate entity from Zimasco.
Armed with the court order, he allegedly confronted the Zimasco management demanding access to the company’s bank accounts. The management, however rebuffed him and immediately instituted legal action.
A different High Court judge heard the matter and ruled in favour of Zimasco. Aggrieved by the ruling, Tundiya’s firm Avim Investments appealed to the Supreme Court, resulting in the latest ruling.
Meanwhile, Zimasco says it is still pursuing its application for a declarator and in the alternative, rescission or setting aside of the court order appointing Manase as its corporate rescue practitioner. The company argues that the court papers were not served on it.
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