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Harare High Court
Kingdom Bank Africa Limited v Notrought Trading (Private) Limited & 3 Ors
HH 437-12
Case Details
Court
Harare High Court
Date
21 November 2012
Citation
HH 437-12
Neutral Citation
[2012] ZWHH 437
Outcome
unknown
Case Type
Trial
Bench
Presiding
Mathonsi J
Full Bench
Mathonsi J
Areas of Law
Banking LawCommercial LawContract Law
Keywords
loan facilitysurety bondguaranteeimpossibility of performancegovernment banchrome exports
Tags
loan agreementsuretyguaranteebankingcommercial litigation
legislation
Statutes Cited
- High Court Rules, 1971
ai analysis
Case Summary
Key Issues
- {"issue_text":"Whether the defendants are liable for the full loan amount including interest","issue_type":"mixed","dispositive":"yes","related_facts":"Loan agreements, failure to repay, government ban timing"}
- {"issue_text":"Whether government ban on chrome exports constituted supervening impossibility","issue_type":"law","dispositive":"yes","related_facts":"Ban imposed April 2011, contractual payment dates"}
- {"issue_text":"Whether plaintiff entitled to collection commission and attorney-client costs","issue_type":"law","dispositive":"no","related_facts":"Matter proceeded to trial, no pre-trial collection"}
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background
Facts of the Case
Background
A Botswana-registered bank advanced loans totaling US$777,380.05 to a Zimbabwean company for chrome production, secured by surety bonds and personal guarantees from three other defendants. When the borrower failed to repay, the defendants claimed a government ban on chrome exports rendered performance impossible and sought to limit liability to capital only.
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