Coal miners sued over $3,885 million debt

COAL mining firm, Zambezi Gas Zimbabwe (Pvt) Ltd, has been dragged to court by NR Barber (Pvt) Ltd over a $3,885 million debt for services rendered at Ithuba Mine in Hwange, a few years ago.

BY CHARLES LAITON

Through its lawyers, Dondo and Partners, NR Barker issued summons at the High Court last Friday, accusing the coal miner of reneging on its contractual agreement to pay despite its acknowledgement of debt made in February this year.

The nature of the services rendered was not disclosed in court papers. “On February 15, 2017, the defendant (Zambezi Gas) executed an acknowledgement of debt in favour of the plaintiff (NR Barber), wherein it admitted that the amount of $3,885 million was due and owed to the plaintiff as a debt arising from the work done by plaintiff at Entubar Mine,” NR Barber said in its declaration.

“The defendant was given an indulgence in terms of the acknowledgement of debt to settle the amount in monthly instalments by February 28, 2017. The defendant failed to pay the monthly instalments as per the acknowledgement of debt and the amount of $3,885 million is now due and payable to the plaintiff.”

NR Barber also said it was demanding interest at the prescribed rate of 5% per annum, calculated from the date of summons to the date of payment in full plus cost of suit at an attorney-client scale.

Zambezi Gas Zimbabwe is yet to respond to the litigation.

Coal miners sued over $3,885 million debt : NewsDay Zimbabwe.