Prophet Walter Magaya seeks one week postponement in US$420k liquidation case
HARARE – Prophetic Healing and Deliverance Ministries leader Walter Magaya and his wife, Tendai, have secured a one-week postponement in the High Court proceedings initiated by GetBucks Microfinance Bank Limited, which seeks to liquidate their personal estates over an outstanding debt of US$420,140.72.
The matter, originally scheduled to be heard yesterday (Wednesday), was deferred after Magaya’s legal team requested the extension to prepare their challenge to the liquidation application.
The matter will be heard on the 25th of June, next week.
GetBucks Microfinance Bank Limited is pursuing the liquidation under Section 6 of the Insolvency Act (Chapter 6:07), contending that the Magayas are unable to settle their debts and have committed acts of insolvency.
This follows a High Court judgment from October 9, 2024, which ordered Walter Magaya, Tendai Magaya, and their company, Planet Africa (Private) Limited, to pay the stated sum along with 10% monthly interest from September 11, 2024.
Court documents indicate that previous attempts to recover the funds have been unsuccessful.
Movable assets at their residential address were released after a claim by the Trustees of The Walter Magaya Family Trust, while those at Planet Africa’s address were claimed by PHD Ministries.
An immovable property, a piece of land in Salisbury, was declared specially executable, but its sale on March 28, 2025, was reportedly frustrated when Planet Africa (Private) Limited entered corporate rescue proceedings.
GetBucks Microfinance Bank Limited asserts that with no other known assets belonging to the Magayas and all execution avenues exhausted, they are insolvent.
The bank also points to neglected statutory demands for payment and a “nulla bona” return from the Sheriff, indicating no attachable assets.
The bank has nominated Noreen Chikaka of Reign Management Consultancy (Private) Limited as the proposed liquidator, arguing that liquidation would benefit GetBucks and other creditors by preventing further debt accrual and compelling the Magayas to disclose their financial affairs.
The application also suggests the Magayas may attempt to leave the country and seeks an order for them to surrender their passports.
