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Harare High Court
Al Shams Global BVI Limited v Kitchen Décor (Private) Limited and Interfin Bank Limited (In liquidation being represented by the Deposit Protection Corporation in its capacity as the duly appointed Liquidator)
HH 672-17
Case Details
Court
Harare High Court
Date
11 October 2017
Citation
HH 672-17
Neutral Citation
[2017] ZWHH 672
Outcome
unknown
Case Type
Trial
Bench
Presiding
TAGU J
Full Bench
TAGU J
Areas of Law
Banking LawCommercial LawNegotiable Instruments
Keywords
Bankers AcceptanceDishonourCessionHolder in due courseLiquidation
Tags
Bankers AcceptanceDishonoured instrumentCessionLiquidation
legislation
Statutes Cited
- Immigration Act 1971
- Immigration and Asylum Act 1999
- Nationality, Immigration and Asylum Act 2002
- European Convention on Human Rights
- Human Rights Act 1998
- Refugee Convention 1951
- Immigration (Carriers' Liability) Act 1987
- Asylum and Immigration Appeals Act 1993
- Asylum and Immigration Act 1996
- Immigration (Leave to Enter and Remain) Order 2000
- Immigration (European Economic Area) Regulations 2000
- Immigration (Restrictions on Employment) Order 1996
- Special Immigration Appeals Commission Act 1997
- Anti-terrorism, Crime and Security Act 2001
ai analysis
Case Summary
Key Issues
- {"issue_text":"Whether the first defendant has fully discharged its obligation in terms of Bankers Acceptance number LN/11/0587","issue_type":"mixed","dispositive":"yes","related_facts":"Defendant claims to have deposited USD 93,214.36 with Interfin Bank"}
- {"issue_text":"What is the correct interest rate applicable - 20% or 25% per annum","issue_type":"law","dispositive":"no","related_facts":"Defendant's witness conceded 25% under cross-examination"}
- {"issue_text":"Whether liquidation of Interfin Bank constitutes supervening impossibility","issue_type":"law","dispositive":"no","related_facts":"Defendant continues trading and has other bank accounts"}
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background
Facts of the Case
Background
The plaintiff, holder of a Bankers Acceptance for USD 267,291.67 issued by the first defendant and accepted by Interfin Bank, sued for the unpaid balance of USD 93,214.36 plus interest after the instrument was dishonoured on presentation. The first defendant admitted partial liability and paid USD 121,994.18 but contested the balance, claiming it had deposited the amount with Interfin Bank before that bank was placed under curatorship and liquidation.
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