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Makamba not repaid $ 2,7y: Empire crumbles newsdzeZimbabweNewsdzeZimbabwe


Empire known businessman Mr. James Makamba, it seems,
collapse after the Supreme Court put Kestrel Corporation under preliminary
judicial management, as Mr George Manyere is struggling to regain its US $ 2.7 Mill.
Mr. Manyere through his company Ecsponent Zimbabwe joined
agreement with Kestrel Corporation Mr. Makamba on sale Telecel
shares. However, the deal did not go through and Mr Makamba failed
to return the money.
US high court judge ordered Thompson Mabhikwa
Kestrel is placed under provisional judicial management for an indefinite period, so
its assets – shares Activation Corporation – protected from other legal
"Master hereby directed assign Winsley Militala
as the interim head of the court of the defendant (Kestrel Corporation), with
powers and duties set forth in Section 303 of the Companies Act (Chapter 24:03), "
judge ruled.
Mr Makamba – who has lived in self-imposed exile for 12 years
until 2017 – it was not yesterday did not respond to questions sent via SMS.

He stopped by a phone call, after being told that it was
by The Sunday Mail. Subsequent calls went unanswered.

Nevertheless, Mabhikwa judge gave all interested parties,
opposes Kestrel Corporation prior judicial control until May 23
2019 to show cause why the order should not be upheld.
In his inaugural oath submitted in the Bulawayo High Court,
Mr. Manyere said Kestrel Corporation was unable to pay its debts and be
recklessly wasted.
"There is a reasonable probability that if a company
placed under judicial management will be able to pay its debts or meet
and its commitment to become a successful concern.
"Responder (Kestrel) shall applicant (Mr.
Manyere and Ecsponent) and is unable to fulfill its obligations in connection with its
mismanagement, which borders on the fraudulent conduct.
"Placing the defendant under the control of a third
the party will allow for the expeditious resolution of issues related to her and her
creditors ".
Mr. Manyere said that he had paid Mr Makamba US $ 2.75 million as a deposit
for the purchase of 690,000 ordinary shares in the revitalization Corporation.
Reached an agreement for the sale of shares
An extraordinary general meeting Revitalization Corporation, which was held in
South Africa 9 February 2017.
Gg Makamba and Manyere then signed two agreements
selling 69 per cent stake in Makamba Activation Corporation.
As part of the oath g Manyere reads: "The condition
Precedent in both agreements was carried out in all including a housing
balance to pay for pans with G N Mlotshwa & Co. practicing lawyers,
trust. It was brought to the attention of practicing lawyers of the defendant – in
particularly holding of an extraordinary general meeting to note sale, as well as
Retired Dr. James Makamba from Telecel Zimbabwe ".
Mr. Manyere said that his nemesis avoids sale
shares or refund of the deposit and raise various proposals
They have not been completed.
Mr Makamba also accused of sale
real estate – have been used as collateral in the deal Telecel – up
third party.
«Makamba is, using Kestrel Office for Empowerment
Corporation, exported by the country's violation of currency control
regulations, hundreds of US dollars.
"… The Supreme Court clearly define for the initiation of proceedings for
persecution of Makamba. The Supreme Court ordered the court
the continuation of the export charges. There is not a trial does not continue

"There are numerous violations of the Law on Corporate Income Tax and
appropriate legislation (Kestrel) the defendant company, the quantum of which is unknown
at the moment, but it has to do with its relations with the EU and Telecel Zimbabwe ".

In addition, Mr. Manyere notes in his inaugural oath that
Mr Makamba through Kestrel Corporation has not fulfilled obligations in South Africa,
as a result of the public auction of the last asset.
The struggle for Telecel shares has been raging for some
years.EC was established in 1998 to provide local residents were interested in
telecommunications business.
It's seen a variety of local organizations, such as Mr Makamba-x
Kestrel Corporation, Dr. Jane Mutasa in Selphon Investments, Magamba eChimurenga,
Integrated Engineering Group, National Association of Miners and Zimbabwe
Farmers Union, a share in the EU.
Telecel, the country's third largest mobile phone company
subscribers, was involved in confusion from the moment of its formation in particular
in relation to the EU's own shares.
Executives are regularly fired at a mobile company.
The government owns 60 percent of the shares after the purchase of VimpelCom Telecel
ZARNet over $ 40 million deal. sunday Mail

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