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ZIMASCO Secures Temporary Court Relief Against Wilson Manase’s Corporate Rescue Bid
HARARE – Zimbabwe’s High Court has granted ZIMASCO (Pvt) Ltd, a leading ferrochrome producer, an interim order preventing lawyer Wilson Manase from acting as the company’s corporate rescue practitioner.
Court Ruling Details
Justice Faith Mushure delivered the ruling following an urgent application by ZIMASCO management. The company expressed surprise at Manase’s attempts to assume the corporate rescue practitioner role based on a court order obtained against SINOSTEEL ZIMASCO (Pvt) Ltd – an entity ZIMASCO claims has no connection to their operations.
Key Company Statements
- ZIMASCO maintains it faces no financial distress
- Avim Investments (Pvt) Ltd is not a creditor
- Documents used in Sinosteel case irrelevant to ZIMASCO
Ongoing Legal Proceedings
The High Court’s interdict serves as temporary relief pending a return date hearing. ZIMASCO plans to:
- Seek formal declaration that it’s distinct from ZIMASCO SINOSTEEL
- Apply for rescission of the initial court order
- Present their defense against the allegations
Judicial Complaint Filed
In related developments, ZIMASCO last week filed a formal complaint with the Judicial Service Commission against High Court Justice Joel Mambara, alleging:
- Judicial impropriety in handling the corporate rescue application
- Failure to serve proper court documents
- Unusual speed in granting orders (within 3 hours of filing)
- Procedural irregularities in case handling
ZIMASCO CEO John Musekiwa’s complaint letter suggested Justice Mambara’s “active participation” in what the company describes as a fraudulent scheme to unlawfully seize control of their assets.
Case Background
The dispute originates from a March 12, 2025 corporate rescue order granted against SINOSTEEL ZIMASCO that ZIMASCO claims was improperly extended to include their operations without proper notification or legal basis.
This report summarizes original content from Nehanda Radio. For complete details, please visit the original article.
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