ZIMBABWE BANKING CORPORATION LIMITED v INTERFIN MERCHANT BANK OF ZIMBABWE LIMITED

HH 13-2005

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Case Details

Court

Harare High Court

Date

9 February 2005

Citation

HH 13-2005

Neutral Citation

[2005] ZWHH 13

Outcome

unknown

Case Type

Application

Bench

Presiding

MAKARAU J

Full Bench

MAKARAU J

Areas of Law

Banking LawCommercial LawCivil Procedure

Keywords

Provisional SentenceBills of ExchangeHolder in Due CourseBankers AcceptancesLiquid Document

Key Issues

{"issue_text":"Whether provisional sentence should be granted where defendant claims debt was discharged by payment to third party","issue_type":"mixed","dispositive":"yes","related_facts":"Defendant's payment to First Mutual Asset Management Company; plaintiff being holder in due course"}
{"issue_text":"Whether provisional sentence matters should be referred to opposed roll when contested","issue_type":"procedural","dispositive":"no","related_facts":"Defendant urged court to refer matter to opposed roll"}
{"issue_text":"Whether technical defects in provisional sentence summons can be cured by amendment","issue_type":"procedural","dispositive":"no","related_facts":"Defendant alleged irregularities ex facie summons"}

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Facts of the Case

Background

Plaintiff issued provisional sentence summons against defendant for $720,428,163.97 based on five bankers acceptances issued by defendant. Defendant initially opposed but later admitted the debt was discharged by payment to First Mutual Asset Management Company. Court found defendant failed to raise probability of success as plaintiff was holder in due course.

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