Zimasco dispute: Court bars lawyer’s attempts to access miner’s accounts

A judge has barred lawyer Wilson Manase from accessing Zimasco (Pvt) Ltd’s bank accounts following a fresh turn in the corporate rescue saga involving the mining company.

The court’s interdict stopped Manase from presenting himself as Zimasco’s corporate rescue practitioner, thwarting what the company says was the lawyer’s attempt to gain access to the company’s bank accounts.

In an earlier ruling, the High Court had interdicted Manase from holding himself out as corporate rescue practitioner for Zimasco (Pvt) Ltd, on the basis of action brought by businessman Shephard Tundiya’s Avim Investments. In response, Tundiya filed a notice of appeal with the Supreme Court against the interdict.

 While that ruling was directed at Manase, Avim Investments filed a notice of appeal against the interdict with the Supreme Court. This move raised eyebrows, especially as Manase had not opposed the original interdict at the High Court.

Shortly after Avim Investments’ appeal was filed, Manase approached Zimasco’s bank demanding immediate access to the company’s accounts. He claimed that the appeal had suspended the effect of the High Court’s interdict, a move that was resisted by the bank and brought to Zimasco’s attention.

In response, Zimasco filed an urgent chamber application with the Supreme Court seeking two key outcomes: for the appeal by Avim Investments to be treated with urgency, and for an interim order restraining Manase from interfering with the company pending the hearing of the appeal.

On April 9, Supreme Court judge Justice Tendai Uchena granted both requests. He ordered that the appeal be set down for urgent hearing and ruled that, in the meantime, Manase must refrain from holding himself out as Zimasco’s corporate rescue practitioner.

Zimasco sees the appeal by Avim Investments as a ploy aimed at gaining access to the company’s assets and bank accounts under the guise of legal process. Zimasco also reiterated that Tundiya’s corporate rescue application had targeted “Sinosteel Zimbabwe”, a separate entity.

Says Zimasco: “In Zimasco (Pvt) Ltd’s view, the appeal was filed in an opportunistic attempt to get a window to fraudulently access the assets and bank accounts of Zimasco (Pvt) Ltd. In addition, Zimasco (Pvt) Ltd wishes to inform all its stakeholders that the two High Court orders issued by Justice Mambara apply to Sinosteel Zimasco (Pvt) Ltd, an unrelated entity, and therefore cannot be enforced against Zimasco (Pvt) Ltd. A High Court application has been filed to address this matter for determination.”

The controversy has attracted international attention, with the Chinese Embassy writing to the Government of Zimbabwe to express concern over the security of Chinese investment in Zimasco. The embassy has urged Zimbabwean authorities to take decisive action to safeguard the integrity of the investment and prevent any unlawful interference.