Agricultural Bank of Zimbabwe Limited t/a Agribank v Nickstate Investments (Private) Limited and Richard Makwara and Plaxedes Makwara

Key Issues

• {"issue_text":"Whether the contract was conditional upon the first defendant obtaining foreign currency from Reserve Bank of Zimbabwe","issue_type":"mixed","dispositive":"yes","related_facts":"Contract silent on foreign currency; defendants claimed import necessity; letters after contract mentioning foreign currency"}
• {"issue_text":"Whether the corporate veil should be lifted to make second and third defendants personally liable","issue_type":"law","dispositive":"yes","related_facts":"Second defendant admitted being alter ego; funds diverted for personal use; company has no assets"}
• {"issue_text":"Whether plaintiff is entitled to specific performance or damages","issue_type":"law","dispositive":"yes","related_facts":"Vehicles no longer in production; defendants failed to deliver"}
• {"issue_text":"Whether amendment to change currency of claim should be allowed","issue_type":"procedural","dispositive":"no","related_facts":"Application made at trial commencement; defendants opposed"}

Background