The Trustees for the Time Being of Cornerstone Trust & 2 Ors v NMB Bank Limited

Judgment No. SC 97/21

Analyze with AI

Case Details

Court

Supreme Court

Date

24 September 2021

Citation

Judgment No. SC 97/21

Neutral Citation

[2021] ZWSC 97/21

Judgment No.

SC 97/21

Outcome

unknown

Case Type

Appeal

Bench

Presiding

HLATSHWAYO JA

Full Bench

HLATSHWAYO JAPATEL JAMAVANGIRA JA

Areas of Law

Contract LawBanking LawProperty Law

Keywords

Joint and Several LiabilityPower of AttorneyInsider LoanApprobate and Reprobate

Key Issues

{"issue_text":"Whether the court a quo properly dismissed the appellants' counterclaim given their application for withdrawal of the same","issue_type":"procedural","dispositive":"no","related_facts":"Appellants sought to withdraw counterclaim after evidence had been led"}
{"issue_text":"Whether the court a quo misdirected itself in holding the appellants jointly and severally liable to the respondent for the indebtedness arising from the disputed loan facility agreement","issue_type":"mixed","dispositive":"yes","related_facts":"Validity of loan agreement, authority to enter into agreement, alter ego relationship"}

This summary was generated by AI. Use Zalari to read the full judgment.

background

Facts of the Case

Background

The respondent bank issued summons against the appellants for repayment of a loan facility. The first appellant was the borrower, while the second and third appellants were guarantors and sureties. The second appellant was a shareholder and former director of the respondent bank. The appellants disputed the validity of the loan agreement and the Power of Attorney for a mortgage bond. The High Court found the appellants liable, and the Supreme Court dismissed the appeal.

Read the full judgment, get AI analysis, and find related cases

Open in Zalari →

Zalari is Zimbabwe and Southern Africa's leading AI-powered legal research platform, built by DeepCounsel and powered by Nyamaropa Technologies. Search Zimbabwe Supreme Court and High Court case law instantly, get AI-generated answers with full source citations, and access the most comprehensive corpus of Zimbabwean and Southern African jurisprudence available online. Zalari is the go-to legal AI platform for attorneys, advocates, law students, judges, and corporate counsel across Zimbabwe and South Africa — delivering faster research, smarter insights, and a competitive edge in legal practice. Zalari does not provide legal advice. Always consult a qualified legal practitioner for advice specific to your situation. © 2026 DeepCounsel — a legal technology company democratising access to legal knowledge in Africa.