HARARE – Senziwani Sikhosana has dragged his former business partner to court, Raymond Chigogwana to court over three townhouses in Harare worth US$320 000. The townhouses are part of a 37-unit real estate development valued at US$3.9 million.
Chigogwana and Sikhosana used to run several companies together, including Access Forex, Access Finance, Tara Capital, Thirty-Six Mountbatten, and Access Forex SA. They had a bitter dispute over their shareholding and promises last year, which led to their separation.
Sikhosana, who is the CEO of Bard Santner Markets Inc, left the business last year. He claims that the three townhouses were part of his exit deal with Chigogwana, who is the outgoing boss of Access Finance. He has taken Chigogwana to court to demand the transfer of the properties or US$320 000 in cash within 14 days. He also wants Chigogwana to pay all the taxes and costs related to the transfer.
Sikhosana has filed a High Court application with his entities Ferden Investments, Rock Drill Mining and Seanmart Investments as applicants. The respondents are Chigogwana, Bwerinofa, Thirty-Six Mountbatten, Access Finance, Access Forex, Tara Capital, The Sheriff of the High Court and the Registrar of Deeds and Companies.
Sikhosana wants the court to order Chigogwana to transfer the townhouses or pay him cash. If he fails to do so, Sikhosana wants the court to allow him to attach and sell Chigogwana’s assets to settle the deal. He also wants Chigogwana to pay all transfer taxes and costs.
With Chigogwana’s recent announcement of stepping down from Access Finance, Sikhosana has rushed to court to demand the alleged outstanding payment, arguing that his properties should not be part of the takeover deal as they are encumbered within the buyout arrangement.