The High Court has come to the aid of defunct diamond mining company DTZdtz-Ozego barring the Sheriff from selling the company’s mining equipment to settle an US$11 million debt owed to creditors.
DTZ-Ozego’s mining equipment, machinery and property worth over US$6 million was attached by the Sheriff of the High Court and was supposed to go under the hammer this Friday (today) until a last minute urgent chamber application for an interdict was granted in the company’s favour.
The mining company was jointly represented by Tapson Dzvetero and Advocate Garikayi Sithole and they appeared before Justice Edith Mushore.
In the urgent chamber application for an interdict seeking to bar the Sheriff of the High Court from auctioning off its property, the company accepts owing Metallion Gold Private Limited and 59 other creditors US$11.260 million.
However it argued that the entire amount was inherited by the Zimbabwe Consolidated Diamond Company when the government of Zimbabwe took over the diamond mining operations in 2015 owing to discovery that mining companies were carrying out unlawful activities and siphoning gems from the country.
Justice Mushore granted the order sought by the company effectively stopping the sake in execution of DTZ-Ozego’s property pending finalisation of a High Court matter.
She additionally stopped the sale of the property pending deliberations between the mining company, the Minister of Mines and Mining Development, ZCDC and ZMDC.