HARARE, May 13 (NewsDayLive) -The Supreme Court has dismissed an appeal by Kwekwe businessman Shephard Tundiya's Avim Investments seeking to challenge an interdict barring lawyer Wilson Manase from acting as corporate rescue practitioner for ferrochrome producer Zimasco (Pvt) Ltd.
Three judges of appeal heard the matter and struck it off the roll with costs.
The appeal had been filed by Avim Investments fronted by Kwekwe businessman Shephard Tundiya who is angling to grab the ferrochrome producer.
This effectively means that the High Court order issued early this year prohibiting Manase from acting as a corporate rescue practitioner for Zimasco remains in force pending the hearing of its application for a declaration that the court order appointing him corporate rescuer for Sinosteel Zimasco (Pvt) Ltd did not apply to Zimasco (Pvt) Ltd.
In its court papers, Zimasco (Pvt) Ltd reiterated that it is in no way related to Sinosteel Zimasco (Pvt) Ltd nor facing financial challenges to justify appointment of a corporate rescue practitioner.
It added that the documents used by Avim Investments to obtain the court order were fraudulent, and were presented to court with the sinister motive of grabbing Zimasco (Pvt) Ltd's assets.
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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