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Demand Deposits and the Nature of the Contractual Relationship Between Banker and Customer

HH08-10 : CFX BANK LIMITED vs RTO ENGINEERING [PRIVATE] LIMITED and MESSENGER OF COURT
Ruled By: KARWI J

This is an urgent chamber application for stay of execution pending review. The relevant background to this matter is as follows:On 14 December 2009, the Regional Court sitting at Harare convicted the applicant Bank of contravening section 136 of the Criminal Law (Codification and Reform) Act [Chapter 9:23] and sentenced ...
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SC44-13 : RESERVE BANK OF ZIMBABWE vs ZIMBABWE REVENUE AUTHORITY
Ruled By: MALABA DCJ, ZIYAMBI JA and OMEERJEE AJA

This is an appeal against the judgment of the High court granting an order for payment to the respondent of USD4,960,305=70 which the appellant received into its own account from Standard Chartered Bank and Commercial Bank of Zimbabwe, pursuant to a directive issued to the banks to transfer the money from accounts held with ...
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HH01-11 : MUROWA DIAMONDS vs COMMISSIONER GENERAL OF THE ZIMBABWE REVENUE AUTHORITY
Ruled By: GOWORA J

The applicant has filed a founding affidavit in which the facts surrounding the application are alleged to be the following. The applicant carries on business as a diamond miner at Murowa, with its registered office being in Harare. In June or July 2009, officials of the Zimbabwe Revenue Authority, of which the respondent is, in terms ...
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Appealed
SC49-13 : STANDARD CHARTERED BANK ZIMBABWE LIMITED vs CHINA SHOUGANG INTERNATIONAL
Ruled By: ZIYAMBI JA, GARWE JA and HLATSWAYO JA

Standard Chartered Bank Zimbabwe (“the appellant”) or (“the Bank”) is a commercial bank registered and operating in Zimbabwe.The respondent is a company duly incorporated in terms of the laws of Zimbabwe and was carrying on business in Redcliff, Zimbabwe. It is a foreign investor whose specific purpose was the refurbishment ...
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Appealed
HH287-20 : PENELOPE STONE and RICHARD BEATTIE t/a THE STONE/BEATTIE STUDIO vs CENTRAL AFRICAN BUILDING SOCIETY and RESERVE BANK OF ZIMBABWE and MINISTER OF FINANCE & ECONOMIC DEVELOPMENT
Ruled By: ZHOU J

This is an application for an Order that:1. The first Respondent pays a sum of US$142,000 together with interest thereon at the rate of 5% per annum from 28 November 2016 to the date of payment within seven days from the date of this order.2. In the alternative, the Applicants ...
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SC15-21 : CENTRAL AFRICAN BUILDING SOCIETY vs PENELOPE STONE and RICHARD BEATTIE and RESERVE BANK OF ZIMBABWE and MINISTER OF FINANCE AND ECONOMIC DEVELOPMENT
Ruled By: GWAUNZA DCJ, MAKONI JA and KUDYA AJA

This is a composite judgment in respect of three appeals which were heard at the same time.The appeals are against the whole judgment of the High Court handed down on 14 May 2020. They all rely on essentially the same grounds of appeal. The three appellants were the respondents in ...
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HH169-13 : TROJAN NICKEL MINE LIMITED vs RESERVE BANK OF ZIMBABWE
Ruled By: MATHONSI J

It is WALLIS JA, with HARMS AJ, VAN HEERDEN JA, MALAN JA and PETSE AJA all concurring who waxed lyrical in Executive Officer of the Financial Services Board v Dynamic Wealth Ltd Ors 2012 (1) SA 543 when he said:“Ever since the bursting of the South Sea Bubble ...
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HH310-11 : CHINA SHOUGANG INTERNATIONAL vs STANDARD CHARTERED BANK ZIMBABWE LTD
Ruled By: BERE J

The facts, which are fairly straightforward and common cause in this matter, can safely be summarised as follows:The applicant is a company duly registered and incorporated in terms of the laws of Zimbabwe. The respondent is a registered commercial bank with a number of branches in Zimbabwe.The applicant runs two ...
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