{"id":107012,"date":"2025-04-11T21:56:01","date_gmt":"2025-04-11T19:56:01","guid":{"rendered":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/zimasco-wins-supreme-court-appeal-against-top-lawyer-manase"},"modified":"2025-04-15T13:51:24","modified_gmt":"2025-04-15T11:51:24","slug":"zimasco-wins-supreme-court-appeal-against-top-lawyer-manase","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/zimasco-wins-supreme-court-appeal-against-top-lawyer-manase","title":{"rendered":"Zimasco wins Supreme Court appeal against top lawyer Manase"},"content":{"rendered":"

Africa-Press – Zimbabwe. <\/strong><\/span>HARARE, April. 11 (NewsDay Live) – ZIMASCO (Pvt) Ltd has won a Supreme Court appeal against businessman Shepherd Tundiya\u2019s Avim Investments and its lawyer Wilson Manase, who had allegedly attempted a hostile takeover of the chrome mining and smelting company.<\/p>\n

Manase had imposed himself as the company’s corporate rescue practitioner.<\/p>\n

In a judgment issued on Thursday, Justice Tendai Uchena ruled that: \u201cThe application for the interim relief and for the urgent hearing of the appeal filed under case number SC249\/25 be and is hereby granted.<\/p>\n

\u201cThe second respondent shall refrain from acting or conducting himself as a corporate rescue practitioner in terms of Part XXXIII the Insolvency Act [Chapter 6:07].<\/p>\n

\u201cThe registrar of the High Court shall prepare the record of proceedings and forward it to the Registrar of the Supreme Court by the 25\/04\/25. (i) within five days of the receipt of the record by the registrar of this court, the registrar shall immediately invite the parties to file their heads of arguments.<\/p>\n

\u201c( ii) Thereafter, the registrar shall set down the appeal on the earliest available court date.\u201d<\/p>\n

Avim Investments, Manase, rhe master of the High Court and the Registrar of Companies were cited as the first to fourth respondents.<\/p>\n

Following the takeover bid by Avim Investments, Zimasco said in a statement Friday, the Chinese embassy has written to the government of Zimbabwe raising concern over the security of its investment in Zimasco (Pvt) Ltd and urged the government to take necessary and decisive action to halt any unlawful infringement on its investment.<\/p>\n

Zimasco also said following the granting of an interdict by the High Court of Zimbabwe barring Manase, Tundiya\u2019s Avim Investments filed a notice of appeal with the Supreme Court of Zimbabwe against the interdict, notwithstanding the fact that the interdict was against Manase.<\/p>\n

\u201cSurprisingly, Wilson Manase, who did not oppose the interdict application at the High Court, soon after Avim Investments\u2019 appeal was filed at the Supreme Court, approached Zimasco (Pvt) Ltd\u2019s bank demanding immediate access to Zimasco (Pvt) Ltd\u2019s bank accounts on the basis that the appeal had suspended the High Court interdict earlier granted to Zimasco (Pvt) Ltd,\u201d Zimasco said.<\/p>\n

\u201cThis was resisted by the bank and brought to Zimasco (Pvt) Ltd\u2019s attention, which then filed an urgent chamber application to the Supreme Court, for Avim Investment\u2019s appeal to be heard urgently and for an interim relief for Wilson Manase to refrain from his conduct pending the hearing of the appeal.<\/p>\n

\u201cThe urgent chamber application was heard yesterday (April 9, 2025) by Justice Uchena, who ordered that the appeal by Avim Investments be set down for hearing urgently and that pending the hearing of the appeal, Wilson Manase shall refrain from asserting or holding himself out as corporate rescue practitioner for Zimasco (Pvt) Ltd.<\/p>\n

In a statement following the Supreme Court ruling, Zimasco said it is now waiting for the High Court to determine the matter.<\/p>\n

\u201cIn Zimasco (Pvt) Ltd\u2019s 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.<\/p>\n

\u201cIn addition, Zimasco (Pvt) Ltd wishes to inform all its stakeholders that the two High Court orders issued by Justice (Joel) Mambara apply to Sinosteel Zimasco (Pvt) Ltd, an unrelated entity and, therefore, cannot be enforced against Zimasco (Pvt) Ltd,” Zimasco said.<\/p>\n

For More News And Analysis About Zimbabwe<\/span> Follow Africa-Press<\/span><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Zimbabwe. HARARE, April. 11 (NewsDay Live) – ZIMASCO (Pvt) Ltd has won a Supreme Court appeal against businessman Shepherd Tundiya\u2019s Avim Investments and its lawyer Wilson Manase, who had allegedly attempted a hostile takeover of the chrome mining and smelting company. Manase had imposed himself as the company’s corporate rescue practitioner. In a […]<\/p>\n","protected":false},"author":84,"featured_media":107011,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3,6],"tags":[19],"class_list":["post-107012","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-zimbabwe"],"yoast_head":"\nZimasco wins Supreme Court appeal against top lawyer Manase - zimbabwe<\/title>\n<meta name=\"description\" content=\"HARARE, April. 11 (NewsDay Live) - ZIMASCO (Pvt) Ltd has won a Supreme Court appeal against businessman Shepherd Tundiya ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/zimasco-wins-supreme-court-appeal-against-top-lawyer-manase\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Zimasco wins Supreme Court appeal against top lawyer Manase\" \/>\n<meta property=\"og:description\" content=\"HARARE, April. 11 (NewsDay Live) - 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