Businessman in trouble over debt

Businessman Jameson Rushwaya is facing prospects of doing prison time after the High Court ruled in favour of an application imploring the courts to imprison him for failing to pay $174 000 owed to Tetrad Investment Bank.

High Court judge Owen Tagu granted Tetrad Investment Bank the order which placed Jameson and Annie Rushwaya on the doorstep of prison.

“Order in terms of the draft is granted,” Tagu ruled.

Annie, who appeared in court in her personal capacity and on behalf of Jameson did not oppose the application by Tetrad, leading to an order being granted in terms of the financial institution’s request.

“The application for civil imprisonment was applied for, following the Rushwayas’ failure to comply with a February 2014 High Court order requiring them to pay back $174 012, 95 to the bank.

“You, the first and second defendants (Jameson and Annie) are called upon to jointly and severally the one paying the other to be absolved to plaintiff the sum of $174 012, 95 with interest thereon at the rate of 23 percent per annum calculated from the 8th of January 2018 to the date of payment in full.

“You are required to pay this sum by virtue of a judgment obtained against you in the High Court at Harare on the 3rd of February 2014. You were also ordered to pay costs of suit on the higher scale of legal practitioner and client,” read the summons served on the pair.

The pair had, however, been given leeway to explain how they had failed to settle their debt.

The Rushwayas were also given a chance to bring evidence of their income from wages, salary or any other income from any other source.

“The court will conduct an enquiry into your financial position and depending on the circumstances, it may not commit you to prison but instead give you further time to pay the sum due or direct you to pay it in instalments over a specified period of time,” the summons stated.

However, the pair allowed the chance to pass forcing Tetrad to apply for an imprisonment order. – DailyNews