National Blankets last week filed an urgent High Court application in Bulawayo seeking an order interdicting its former partners, David Whitehead, from dealing with properties that the two are fighting over. Court papers at hand reveal that David Whitehead management on 25 March last year transferred properties (Stand 19100 in Harare) to Thinesone Investments (Private) Limited whose directors are under the employ of the textile firm.
National Blankets, in court papers filed by its lawyer, Vonani Majoko of Majoko Legal Practitioners, said the transaction was fraudulent as the properties were supposed to be transferred to it under a de-merger agreement signed in 2002 between the two companies.
National Blankets sought a court order reversing the transaction.
The order is that an interdict be issued against the 2nd respondent (Thinesone Investment) interdicting the 2nd respondent from dealing in any way with immovable property the subject matter of this application, reads in part the court papers.
David Whitehead, Thinesone Investments and Registrar of Deeds Harare are cited as the first, second and third respondents respectively.
National Blankets also seeks an order interdicting the Registrar of deeds, Harare from entertaining any transaction the effect of which would be to alienate or encumber the property described in the preceding paragraph pending the resolution of case.
The matter has not yet been set down for a hearing. David Whitehead and National Blankets were both Lonrho owned companies.
Lonrho pulled out of Zimbabwe in 2001 and sold its two textile companies to a National Blankets consortium after David Whitehead management failed to raise capital to purchase the firm. National Blankets and David Whitehead de-merged in 2002 after entering an agreement to split properties, a deal that the latter has over the years failed to honour, according to High Court papers at hand.
Post published in: Economy