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Harare High Court
Indium Investments (Private) Limited v Kingshaven (Private) Limited & 2 Ors
HH 157-13
Case Details
Court
Harare High Court
Date
22 May 2013
Citation
HH 157-13
Neutral Citation
[2013] ZWHH 157
Outcome
unknown
Case Type
Trial
Bench
Presiding
Hungwe J
Full Bench
Hungwe J
Areas of Law
Commercial lawContract lawProperty law
Keywords
Pactum commissoriumSimulationSham transactionShare sale agreementLease agreementBuy-back option
Tags
Share transferLoan agreementPactum commissoriumSimulation
legislation
Statutes Cited
- Exchange Control Regulations, 1996
ai analysis
Case Summary
Key Issues
- {"issue_text":"Whether the Zimbabwean share sale and lease agreements are simulations/shams","issue_type":"mixed","dispositive":"yes","related_facts":"Identical figures in SA loan and Zim agreements; no share valuation; buy-back option"}
- {"issue_text":"Whether annexure \"C\" constitutes pactum commissorium","issue_type":"law","dispositive":"yes","related_facts":"Transfer of company control without payment; Shumba's weak bargaining position"}
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background
Facts of the Case
Background
The plaintiff claimed eviction of defendants from property based on share sale and lease agreements. Defendants contended these agreements were mere simulations to secure a loan and constituted pactum commissorium. The court found the agreements were shams designed to circumvent exchange control laws and constituted pactum commissorium.
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