Intermarket Stock Brokers (Pvt) Ltd v Chikonyora (HC 6208 of 2005) [2007] ZWHHC 44 (29 May 2007)

Intermarket Stock Brokers (Pvt) Ltd v Chikonyora (HC 6208 of 2005) [2007] ZWHHC 44 (29 May 2007)

The respondent raised a bona fide triable issue by disputing the amount due, as the applicant had disposed of shares reducing the indebtedness, and the summons did not reflect the reduced amount. The applicant's claim was therefore not unimpeachable, and summary judgment could not be granted.

Citation
[2007] ZWHHC 44
Parties
Applicant: Intermarket Stock Brokers (Pvt) Ltd; Respondent: Edward Chikonyora
Court
Harare High Court
Jurisdiction
Zimbabwe
Judgment Date
29 May 2007
Case Number
HC 6208 of 2005
Procedural Posture
Civil / Summary Judgment Application
Outcome
application dismissed
Legal Topics
Summary Judgment, Acknowledgement of Debt, Reduction of Indebtedness, Triable Issue, Stock Exchange Act Compliance
Source Language
English
Civil Procedure Contract Law Securities Law Summary Judgment Acknowledgement of Debt Reduction of Indebtedness Triable Issue Stock Exchange Act Compliance

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Parties

Intermarket Stock Brokers (Pvt) Ltd

Applicant

Edward Chikonyora

Respondent

Procedural Posture

Civil / Summary Judgment Application

Legal Issues

  1. 1 Whether the applicant is entitled to summary judgment for the amount claimed in light of alleged reduction of indebtedness
  2. 2 Whether the respondent has raised a bona fide triable issue to defeat summary judgment

Ratio Decidendi

The respondent raised a bona fide triable issue by disputing the amount due, as the applicant had disposed of shares reducing the indebtedness, and the summons did not reflect the reduced amount. The applicant's claim was therefore not unimpeachable, and summary judgment could not be granted.

Court Disposition

application dismissed

Orders

  • The application is dismissed with costs.