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Harare High Court
Ecobank Zimbabwe Limited v Puzey and Payne (Private) Limited and 5 Others
HH 178-18
Case Details
Court
Harare High Court
Date
28 March 2018
Citation
HH 178-18
Neutral Citation
[2018] ZWHH 178
Outcome
unknown
Case Type
Application
Bench
Presiding
Makoni J
Full Bench
Makoni J
Areas of Law
Banking and FinanceCommercial LawCivil Procedure
Keywords
Summary judgmentFacility agreementSuretiesScheme of arrangementPrima facie defence
Tags
BankingSummary judgmentSuretyshipScheme of arrangement
legislation
Statutes Cited
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ai analysis
Case Summary
Key Issues
- {"issue_text":"Whether applicant can enforce payment against surety where it agreed to scheme of arrangement with principal debtor","issue_type":"mixed","dispositive":"yes","related_facts":"Scheme of arrangement registered 12 July 2017; fifth respondent is surety"}
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background
Facts of the Case
Background
The applicant bank entered into a facility agreement with the first respondent for purchase of buses and vehicles, with individual respondents as sureties. When the first respondent defaulted on repayment of US$282,528.76, the parties entered into a court-registered scheme of arrangement. The applicant later sought summary judgment against the fifth respondent surety, who opposed on grounds that the scheme of arrangement stayed all claims.
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