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Harare High Court
Joice Teurai Ropa Mujuru and Ruzirun Investments (Private) Limited v Peppy Motors (Private) Limited t/a Agritech and Sabrina Sarpio and Tony Sarpio and The Sheriff
HH 436-21
Case Details
Court
Harare High Court
Date
1 September 2021
Citation
HH 436-21
Neutral Citation
[2021] ZWHH 436
Outcome
unknown
Case Type
Application
Bench
Presiding
ZHOU J
Full Bench
ZHOU J
Areas of Law
Commercial LawBanking LawContract Law
Keywords
RTGS dollarsCurrency conversionDeed of settlementInterbank ratePresidential Powers Act
Tags
Banking & FinanceCurrency ConversionContractual Dispute
legislation
Statutes Cited
- Presidential Powers (Temporary Measures) (Amendment of Reserve Bank of Zimbabwe Act & Issue of Real Time Gross Settlement Electronic Dollars (RTGS Dollars)) Act
- Reserve Bank of Zimbabwe Act
ai analysis
Case Summary
Key Issues
- {"issue_text":"Whether the applicants' liability to pay the judgment debt was subject to the currency conversion provisions of S.I. 33 of 2019","issue_type":"law","dispositive":"yes","related_facts":"Liability originated in 2014-2015; S.I. 33 effective 22 February 2019; deed of settlement concluded 20 May 2019"}
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background
Facts of the Case
Background
The applicants sought confirmation of a provisional order staying execution of a judgment obtained by respondents. The dispute centered on whether payment of RTGS$452,000 at 1:1 rate to USD discharged a US$226,000 debt under a deed of settlement, with respondents demanding payment at interbank rate.
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