Stephen Hove versus Trust Banking Corporation Limited In Liquidation

HH 239-18

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Case Details

Court

Harare High Court

Date

8 May 2018

Citation

HH 239-18

Neutral Citation

[2018] ZWHH 239

Outcome

unknown

Case Type

Application

Bench

Presiding

Mangota J

Full Bench

Mangota J

Areas of Law

Banking LawCompany LawCivil Procedure

Keywords

LiquidationLeave to sueDamagesMortgage bondRes judicataCompromise agreement

Key Issues

{"issue_text":"Whether the applicant should be granted leave to sue the respondent under section 213(a) of the Companies Act","issue_type":"procedural","dispositive":"yes","related_facts":"Respondent is under liquidation, applicant seeks to sue for damages"}
{"issue_text":"Whether the applicant's claim has a clearly defined cause of action","issue_type":"mixed","dispositive":"yes","related_facts":"Applicant claims damages of $569,881.61 based on alleged compromise agreement and negligent conduct"}
{"issue_text":"Whether the applicant's damages claim is substantiated and not speculative","issue_type":"fact","dispositive":"yes","related_facts":"Applicant's calculation of damages appears unclear and unsubstantiated"}

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Facts of the Case

Background

Stephen Hove, a businessman, secured loans for two companies (Matfield Operations (Pvt) Ltd and Shareview Enterprises (Pvt) Ltd) by registering a mortgage bond over his property. When the companies failed to pay their debts, the bank obtained judgments against Hove. Hove claims he made efforts to satisfy the judgments and enter into a compromise agreement, but the bank's negligent actions caused him damages of $569,881.61. He now seeks leave to sue the bank which is under liquidation.

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