Lafarge bank account placed under judicial managem...

Lafarge bank account placed under judicial management, moveable goods to be attached over US$320 debt to Rubtech

Zim Now Writer

The Sherriff of Zimbabwe has issued Notice of Seizure and Attachment on Lafarge’s CBZ bank account in a move to settle the cement maker’s US$320,000 debt to Rubtech Machinery and Spares (Pvt) Limited.

"The defendant's (Lafarge) interest in the following account... belonging to Lafarge Cement Zimbabwe Limited held at CBZ Bank Limited Msasa Branch is hereby placed under judicial attachment and the sum of US$321 322, 34 together with Sheriff costs and commission should be transferred into the Sheriff of High Court CBZ Bank Selous Branch account number... (nostro) within 48 hours of service of this notice," the notice reads, October 27, 2022 Notice of Seizure and Attachment by the Sheriff of Zimbabwe ordering the transfer of money from Lafarge's bank account into Rubtech's bank account.

This follows a High Court Writ of Execution directing the Sheriff to attach Lafarge's property "You are required and directed to attach and take into execution the movable goods of Lafarge Cement Zimbabwe Limited of Manresa, Arcturus Road, Greendale, Harare and of the same cause to be realised the sums of US$307 204, 49 together with interest thereon at prescribed rate calculated from November 16, 2020 to date of final payment, payable at the Reserve Bank of Zimbabwe (RBZ) auction rate on the date of payment," reads the Writ, dated October 26, 2022.

On October 25, 2022 High Court Judge, Justice Jacob Manzunzu passed judgement against Lafarge over the debt.

He also ordered to pay US$14 117, 85, together with interest, to be calculated from November 16, 2020 to date of full and final payment using the RBZ auction rate as well as all the costs on an attorney-client scale.

Lafarge was also ordered to pay all the other costs and charges incurred by Rubtech including taxes charged in terms of the law.