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Harare High Court
Muhammad Akram v Olga Mukwindidza & Anor
HH 522-21
Case Details
Court
Harare High Court
Date
22 September 2021
Citation
HH 522-21
Neutral Citation
[2021] ZWHH 522
Outcome
unknown
Case Type
Application
Bench
Presiding
Mafusire J
Full Bench
Mafusire J
Areas of Law
Banking LawCivil ProcedureCurrency Law
Keywords
RTGS dollarsForeign currencyJudgment debtCurrency conversionS.I. 33/19
Tags
Banking & FinanceCurrency ConversionJudgment Debt
legislation
Statutes Cited
- Reserve Bank of Zimbabwe Act
- Finance (No 2) Act, 2019 (No 7 of 2019)
ai analysis
Case Summary
Key Issues
- {"issue_text":"Whether the default judgment debt of USD175,720 was affected by the conversion formula in s 4(1)(d) of S.I. 33/19","issue_type":"law","dispositive":"yes","related_facts":"Default judgment granted in USD; S.I. 33/19 introduced 1:1 conversion; first respondent paid in RTGS"}
- {"issue_text":"Whether the first respondent's payment of ZW RTGS190,000 extinguished her entire obligation","issue_type":"law","dispositive":"yes","related_facts":"Payment made after currency conversion; applicant disputed extinguishment"}
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background
Facts of the Case
Background
The applicant obtained a default judgment against the first respondent for USD175,720 in February 2018. Following the introduction of RTGS dollars through S.I. 33/19 in February 2019, which converted USD-denominated assets and liabilities to RTGS dollars at a 1:1 rate, the first respondent paid ZW RTGS190,000 claiming this extinguished the judgment debt. The applicant disputed this, arguing the judgment debt fell within exemptions for foreign currency obligations.
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