Tetrad Investment Bank Limited (Under Judicial Management) v Bindura University of Science Education & Anor

[2019] ZWSC 5

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Case Details

Court

Supreme Court

Date

22 February 2019

Citation

[2019] ZWSC 5

Judgment No.

SC 5/19

Outcome

unknown

Case Type

Appeal

Bench

Presiding

GWAUNZA JA

Author

MAVANGIRA JA

Full Bench

GWAUNZA JAGUVAVA JAMAVANGIRA JA

Areas of Law

Banking LawInsolvency LawCivil Procedure

Keywords

judicial managementleave to executemoratoriumbank under liquidationcreditor priority

Key Issues

{"issue_text":"Whether the High Court erred in granting leave to execute judgment against a company under judicial management","issue_type":"mixed","dispositive":"yes","related_facts":"Appellant under judicial management; first respondent has confirmed judgment; two years elapsed since judicial management order"}
{"issue_text":"Whether the court a quo properly exercised its discretion in finding special circumstances justified leave to execute","issue_type":"law","dispositive":"yes","related_facts":"First respondent alleged operational difficulties; appellant disputed irreparable harm"}

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Facts of the Case

Background

Tetrad Investment Bank Limited, under judicial management since 2015, appealed against a High Court order granting Bindura University leave to execute a 2014 judgment for US$473,025.52. The Supreme Court dismissed the appeal, finding the lower court properly exercised its discretion.

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