Shingi Munyeza Goes From Mansion Owner to Tenant Amid Legal Turmoil
Shingi Munyeza, once the owner of a mansion in Borrowdale Brooke, now resides as a tenant after finding himself entangled in serious legal issues. Munyeza is now paying monthly rentals of US$1,500 and all the movable property within the house has been attached to ongoing debt challenges.
Legal Action by Connect Microfinance
Connect Microfinance Zambia Limited, the creditor, claims ownership of Munyeza’s property by attaching it through an interpleader. Additionally, the businessman owes the company substantial sums of money. On July 27 of this year, the attached assets at Munyeza’s residence encompass six Samsung TVs, assorted furniture, kitchen appliances, and outdoor furniture, among other belongings.
Ford Ranger Attached and Sold
In addition to the household items, a Ford Ranger, which Munyeza claimed belonged to the bank, was also seized and sold for US$16,500. Marjorie Mutemererwa, a business executive, attached the vehicle to recover the US$100,000 owed by Munyeza and his wife, Wilma.
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Mutemererwa has reached a settlement agreement with Munyeza, stipulating that he must fulfill the payment terms to avoid civil imprisonment. The settlement agreement awaits court approval.
Loan and Broken Promises
Mutemererwa loaned Munyeza the money in January, after being convinced by Wilma about an emergency. The funds were transferred to Munyeza’s bank account in Botswana. Munyeza had initially agreed to repay the loan by January 31, along with a generous interest of US$15,000.
In the deed of settlement, Munyeza commits to making his first payment by September 30. Failure to comply may result in civil imprisonment as pursued by Mutemererwa. The lawyers representing both parties have consented to the settlement agreement, awaiting the court’s final approval.