Businessman sues Innscor for US$1,5m

Published: 10 June 2013
Diversified Zimbabwe Stock Exchange-listed concern Innscor Africa looks headed for a showdown with an indigenous businessman who has slapped its associate company and four of its directors with a US$1, 5 million law suit.

Mr Adrian Moyo, in papers filed with the High Court, is suing Camelbags Trading, Spar boss Mr Evan Christophides, Spar finance director Mr Tineyi Mandengu, Innscor chief executive Mr Tom Brown and Camelbags director Mr Constantine Tumazos.

Mr Moyo is claiming damages for pain, suffering and defamation following the attachment and subsequent sale of his immovable property worth over US$81 000.

Camelbags Trading, however, maintains the claim is invalid.

The dispute arose in 2011 when Camelbags took Mr Moyo to court seeking to recover US$180 000 the company claimed to have lent Yellowcorn Trading, a company he co-owned with Innscor.

In case number HC 5620/11, Innscor's associate company got a default judgment and proceeded to attach Mr Moyo's property worth US$81 838.

However, Mr Moyo went on to successfully appeal against the default judgment thereby setting aside the earlier ruling.

However, despite the latest court order, Camelbags proceeded to attach and sell Mr Moyo's property leading to the latest court battle.

In successfully fighting for the rescission, Mr Moyo stated that on January 25 2010, he, on behalf of Yellowcorn Trading, signed an acknowledgement of debt note in the presence of his then fellow director, Mr Christophides, who assured him he would be forwarded the US$180 000 from Innscor Africa.

However, his company was never given that money by either Innscor or Mr Christophides.

He received a letter of demand from Camelbags based on his signed acknowledgement of debt note.

In his application, Mr Moyo accused Mr Christophides of making him sign the acknowledgement of debt note knowing fully well that there was no arrangement for Yellowcorn to receive money from Innscor.

Through his lawyers, Matsikidze and Mucheche, Mr Moyo challenged Camelbags and the Innscor director to show proof that his company received the US$180 000 they claim to have advanced.

The businessman argues that the attachment of his property using the claim that he borrowed US$180 000 was fraudulent.

"The plaintiff suffered damages of the value of US$81 838.00 with regard to the movable property sold regardless of the rescission of default judgment being granted," argues Mr Moyo in his court papers.

He further argues that the attachment of his property negatively impacted on the operations of Yellowcorn Trading and resulted in him suffering loss of earnings totalling over US$1 million.

"The plaintiff also suffered damages in loss of earning amounting to US$1 074 815.

"The plaintiff also suffered damages of US$68 000 being bank interest and US$180 000 being damages to pain, suffering and defamation and interest calculated on the actuarary factoring rate," reads part of the businessman's plaintiff declaration.

Through their lawyers, Mujeyi Manokore Attorneys, Camelbags maintain Mr Moyo's claim is invalid.

"Plaintiffs sue on the basis of a lawful sale in execution set aside but do not plead either negligence or fraud on the part of the Defendants and can for that reason have no cause of action against the Defendants.

"No particulars of either fraud or negligence have been pleaded or are relied upon by Plaintiffs, which renders claim invalid.

"The Plaintiffs' declaration is vague, embarrassing and argumentative in a manner which renders it incurable. It clearly does not disclose any cause of action against Defendants."
- SM
Tags: sues, Innscor,


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