John Chikura N.O. (2) Deposit Protection Corporation v Alshams Global BVI Limited

[2020] ZWSC 23

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Case Details

Court

Supreme Court

Date

14 February 2020

Citation

[2020] ZWSC 23

Judgment No.

SC 23/2020

Outcome

unknown

Case Type

Appeal

Bench

Presiding

MAKARAU JA

Full Bench

MAKARAU JAHLATSHWAYO JAMAKONI JA

Areas of Law

Banking LawInsolvency LawContract Law

Keywords

bank liquidationdeclaratory orderleave of courtcuratorshipbankers acceptances

Key Issues

{"issue_text":"Whether leave of court was required before instituting proceedings against a bank in liquidation","issue_type":"procedural","dispositive":"yes","related_facts":"Bank was in liquidation, no leave obtained"}
{"issue_text":"Whether the proceedings were against the liquidator personally or against the bank in liquidation","issue_type":"procedural","dispositive":"yes","related_facts":"Draft order sought to compel liquidator to honour bank's contracts"}

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background

Facts of the Case

Background

The respondent purchased bankers acceptances from Interfin Bank Limited in 2011-2012 with buy-back agreements. When the bank was placed under curatorship in June 2012 and later liquidation in February 2015, the respondent sought declaratory relief to enforce the agreements against the liquidator without obtaining prior leave of court.

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