Ferrochrome producer ZIMASCO (Pvt) Ltd has scored a major victory in its ongoing corporate rescue wrangle, after Supreme Court Judge Justice Tendai Uchena granted interim relief barring lawyer Wilson Manase from posing as the company’s corporate rescue practitioner.
By Rudairo Mapuranga
The latest twist in the saga follows a High Court interdict that had already prohibited Manase from acting in the role—an order he allegedly ignored.
Despite not challenging the original High Court ruling, Manase is said to have approached ZIMASCO’s bank, demanding access to company funds. He argued that an appeal filed by Avim Investments, a company linked to businessman and politician Shepherd Tundiya, had suspended the court’s interdict.
ZIMASCO swiftly responded with an urgent chamber application to the Supreme Court, seeking to fast-track the hearing of Avim’s appeal and to stop Manase from interfering with company operations in the meantime.
The Supreme Court granted both prayers—ordering that the appeal be treated as urgent and issuing an interim order compelling Manase to cease and desist from claiming to be the corporate rescue practitioner until the appeal is heard.
ZIMASCO has described the appeal by Avim as nothing more than an “opportunistic attempt to fraudulently access the company’s assets and bank accounts,” raising red flags around the motive and legality of the move.
The company has also raised concern over two High Court orders issued by Justice Joel Mambara, which it says incorrectly refer to SINOSTEEL ZIMASCO (Pvt) Ltd—a completely separate entity. ZIMASCO has filed a fresh application at the High Court to address this alleged misidentification.
The matter has attracted international attention. The Chinese Embassy in Zimbabwe, whose government has direct investment interests in ZIMASCO through Sinosteel, has reportedly raised alarm with Zimbabwean authorities, demanding assurance that the company’s assets will be protected from what it views as illegal encroachment.
Meanwhile, ZIMASCO has taken the unprecedented step of filing a formal complaint with the Judicial Service Commission (JSC) against Justice Mambara, accusing him of misconduct and alleged involvement in a broader scheme to unlawfully seize control of the company’s assets.
The corporate rescue battle is far from over, but the Supreme Court’s latest ruling clearly tilts the momentum back in ZIMASCO’s favour.
