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Harare High Court
CBZ Bank Limited and Hotfield Enterprises Pvt Ltd and Tony Renato Sarpo v Triangle Sugar Corporation Limited t/a Tongaat Hullet, Triangle Limited and Tungamirai Isaac Rukatya and Sheriff of the High Court
HH 617-17
Case Details
Court
Harare High Court
Date
13 September 2017
Citation
HH 617-17
Neutral Citation
[2017] ZWHH 617
Outcome
unknown
Case Type
Urgent Application
Bench
Presiding
TSANGA J
Full Bench
TSANGA J
Areas of Law
Banking LawCivil ProcedureInterdicts
Keywords
anti-dissipation interdictmareva injunctionrevolving loansugar cane proceedsgrower numberside marketing
Tags
interdictanti-dissipationmareva injunctionsugar cane proceedsrevolving credit facility
legislation
Statutes Cited
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ai analysis
Case Summary
Key Issues
- {"issue_text":"Whether requirements for anti-dissipation interdict are satisfied","issue_type":"law","dispositive":"yes","related_facts":"Loan remains unpaid, proceeds diverted, irreparable harm threatened"}
- {"issue_text":"Whether CBZ has prima facie right to proceeds despite alleged partnership dissolution","issue_type":"mixed","dispositive":"yes","related_facts":"Company un-liquidated, Rukatya remains director, irrevocable instruction given"}
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background
Facts of the Case
Background
CBZ Bank advanced a revolving credit facility to Hothfield Enterprises for sugar cane farming, secured by an irrevocable instruction that 100% of sugar cane proceeds be paid to CBZ. After internal disputes, Tungamirai Rukatya changed grower details to divert proceeds to himself, preventing loan repayment. CBZ sought an anti-dissipation interdict to preserve the proceeds.
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