Farai Rwodzi ,CFX/Interfin Bank Zimbabwe & Muponda ownership dispute Part 4 of 5

Farai Rwodzi ,CFX/Interfin Bank Zimbabwe & Muponda ownership dispute Part 4 of 5

Since I have been documenting the ownership dispute between Mr Farai Rwodzi of Interfin Bank and myself and ENG Capital I have been getting queries as to why I am publicising this.In addition there have been suggestions that I am avoiding court whilst using the media.


This matter is already before the High Court of Zimbabwe as High court case HC 6204-04.Filed in may by my late lawyer Mr Oscar Ziweni.I have attached my founding affidavit for the High court case 6244-04.

Below I reproduce the full letter sent by My Lawyers to Interfin Holdings clearly outlining the legitimacy of my $ 15.4 million claim against Interfin.The claim is a based on the 309 million shares in dispute multiplied by the value per share of $ 0.05 to give a total of US$ 15.4 million.In additon we have also asked Interfin to make us and reasonable offer that we cant refuse.We still await the Interfin settlement offer.


"OUR REF: BC/pmd/44

Monday September 27, 2010

The Managing Director
Interfin Holdings (Pvt) Ltd
15th Floor, NSSA Building
Cnr Sam Nujoma St/Julius Nyerere Way
HARARE

Attention: Mr. R. Njanike

Dear Mr. Njanike

Re: GILBERT FARAI MUPONDA and ENG CAPITAL (PVT) LTD: INTEREST IN CFX FINANCIAL SERVICES (PVT) LTD

We refer to our letter dated August 27, 2010 as well as to other previous correspondence in this matter.

We confirm that our client right from the outset, has been challenging the manner in which ENG Capital (Pvt) Ltd’s shares in Century Bank were disposed of by the liquidator, Mr. R. Saruchera. In fact, our client challenged the transfer of the shares through High Court case No. H.C. 6244/04. His co-director, Mr. Nyasha Watyoka supported this court application. The main thrust of this court application was to block the sale and/or transfer of our client’s shares. Our client owned 309 million shares in Century Bank Limited. With respect, therefore, the assumption that our client does not have a legitimate claim is clearly misplaced. Please note that case number H.C. 6244/04, that was filed in the High Court at Harare in late May 2004 by our client’s then lawyer, the late Mr. Oscar Ziweni, is still pending. For your information and records, herewith we forward a copy of the full court application under case number H.C. 6244/04. Our understanding is that Century Holdings has since been effectively taken over by Interfin Holdings Limited. Further, we understand that Interfin Holdings (Pvt) Ltd assumed all the assets and liabilities of the Century Holdings Limited when they took over CFX Bank which itself had taken over the original Century Bank.

When Mr. Oscar Ziweni passed on, our client was left with no legal representation at that stage and around the same time, he was specified. Fearing for his life, our client had no option but to flee Zimbabwe. Mr. Ziweni died in a very mysterious circumstance and our client had every reason to fear that his own life was also in danger. This is the main reason why he fled Zimbabwe.

The process to have our client de-specified has since been set in motion and we are very confident that within the next few weeks, he will be formally de-specified.

You can be assured that our client will take this matter up with the courts in Zimbabwe as soon as he is formally de-specified.

Yours faithfully


B. CHIKOWERO (MR)
GUTU & CHIKOWERO

cc client

cc The Business Editor
NewsDay
Harare
Attention: Mr. Munyaradzi Mugowo
(This is for your information. In the interest of fairness and balanced reporting, we hope and trust that your newspaper will carry a story that gives our client’s side of the story as set out in our letter to Interfin Holdings Limited)."