News:Gono's Greystone Park Property To Be Auctioned Over 1.3 Million Car Debt
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Former Reserve Bank of Zimbabwe Governor Gideon Gono’s Greystone Park property will next week be auctioned over non-payment of a $1,3 million debt.
Gono bought several vehicles on credit from a local car dealer Oasis Motors six years ago for his staff and operations at Lunar Chickens and other companies, but failed to settle the debt.
Oasis Motors successfully sued Gono at the High Court and obtained an order for payment of the debt. Gono did not pay the debt resulting in the attachment of the immovable property in Greystone Park measuring 4 654 square metres. Yesterday, Zim Auctions and Real Estate advertised the sale of Number 8 Edstone Road, Greystone Park. The property will be auctioned on August 26, in Harare.
Dr Gono received vehicles for his staff and operations at his companies, including Lunar Chickens on credit. The vehicles were valued at $1 749 000, but Dr Gono partly paid the debt, leaving a balance of $1 319 000.In his opposing affidavit dated February 17, 2015, Dr Gono argued that at the time when the agreement of sale was signed, charging in foreign currency was illegal hence the acknowledgement of debt relied upon by Oasis Motors should be dismissed as an illegality.
Read More: [hhttp://www.herald.co.zw/gono-loses-house-over-13m-debt/ The Herald]
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