Prophet Walter Magaya and his wife, Tendai of Prophetic Healing and Deliverance Ministries, have secured a provisional stay of liquidation proceedings against their estates after making a substantial payment to GetBucks Microfinance Bank, but the move provides only temporary relief from mounting financial and legal crises.
The agreement sees the couple pay US$180,000 of a total US$420,140.72 debt owed to GetBucks, with a deed of settlement signed to manage the remaining balance through instalments. The deal effectively suspends the bank's High Court application, which had sought the liquidation of the Magayas’ personal estates based on allegations of insolvency and asset concealment.
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While the settlement defers the threat from GetBucks, it comes against a backdrop of intensifying legal pressure on the Prophetic Healing and Deliverance Ministries leader.
Last week, the High Court issued a writ of execution authorizing the public auction of core church assets, including PHD Ministries' hotel, lodges, and stadium complex on Stand 168, Prospect, Waterfalls, Harare. This order was secured by Chinese national Li Xiu Yun in a separate debt recovery case.
Earlier this year, the family's business holdings also signaled deep trouble when their company, Planet Africa (Private) Limited, was forced to enter voluntary corporate rescue proceedings to avoid collapse.
Further complicating debt recovery efforts for creditors, court records indicate that previous attempts to seize the Magayas’ movable assets have been continually blocked by interpleader claims filed by both the Walter Magaya Family Trust and PHD Ministries, highlighting a complex structure of ownership used to shield property from seizure.
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