BY CHARLES LAITON
BUSINESSMAN, Shingirai Albert Munyeza and his co-director Watenga Wilmer Munyeza, in a company called Ringsilver Enterprises (Pvt) Ltd, have lost two Harare properties over US$122 000 in outstanding levies owed to the Zimbabwe Tourism Authority (ZTA).
High Court judge Justice Christopher Dube-Banda issued the order on December 4, 2019 following an application by the ZTA for the lifting and piercing of the corporate veil in respect of Ringsilver Enterprises (Pvt) Ltd.
In his founding affidavit, ZTA’s head of finance William Stima, submitted that the Munyezas and their firm had failed to meet their obligations in terms of submitting levies to the tourism authority.
“This is an application for an order lifting and piercing the corporate veil of the first respondent (Ringsilver Enterprises (Pvt) Ltd) and for a declaratour that any property in the names of or in which the second and third respondents (Shingirai Albert Munyeza, Watenga Wilmer Munyeza) hold shareholding, rights, interest or title be declared executable to the extent of their shareholding or ownership, to meet outstanding debts due and payable to the applicant (ZTA) incurred by the first respondent,” Stima said.
Shingirai, who is an adviser to President Emmerson Mnangagwa, had opposed the application saying he had always remitted levies but, due to viability issues stemming from a challenging operating environment and tough franchise conditions, his firm had failed to continue operating.
However, his submissions did not find favour with Justice Dube-Banda, who ruled against him and his company.
“The application for the lifting and piercing of the corporate veil in respect of Ringsilver Enterprises (Pvt) Ltd be and is hereby granted.
“The second and third respondents be and are hereby held jointly and severally liable to pay the judgment debt and interest in case number HC7708/18 due and payable to the applicant,” Justice Dube-Banda said.
“A certain piece of land situate in the district of Salisbury called stand 12567 Salisbury Township of stand 11227A Salisbury Township measuring 1573 square metres held under deed of transfer 4962/1997 be and hereby declared executable in satisfaction of the court order in HC7708/18 and an undivided 2,982% share being share No 5 in certain piece of land situate in the district of Salisbury measuring 2 379 square metres called stand 1773 Salisbury Township held under deed of transfer 3145/1998 be and hereby declared executable in satisfaction of the court order in HC7708/18.”