Akram v Mukwindidza (522 of 2021) [2021] ZWHHC 522 (22 September 2021)
The default judgment in USD did not fall within the exceptions of s 44C(2) of the Reserve Bank Act and was therefore subject to conversion to RTGS dollars at a 1:1 rate under s 4(1)(d) of S.I. 33/19 and s 22 of the Finance Act. Payment in RTGS extinguished the debt.
Source-derived case information.
- Citation
- [2021] ZWHHC 522
- Parties
- Applicant: Muhammad Akram; First Respondent: Olga Mukwindidza; Second Respondent: The Sheriff for Zimbabwe
- Court
- Harare High Court
- Jurisdiction
- Zimbabwe
- Judgment Date
- 22 September 2021
- Case Number
- 522 of 2021
- Procedural Posture
- Opposed Application / Judgment After Hearing
- Outcome
- application dismissed
- Legal Topics
- Judgment Debt, Currency Conversion, Statutory Interpretation
- Source Language
- english
Source-derived case record
Summary, issues, holding and outcome
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Parties
Muhammad Akram
Applicant
Olga Mukwindidza
First Respondent
The Sheriff for Zimbabwe
Second Respondent
Procedural Posture
Opposed Application / Judgment After Hearing
Legal Issues
- 1 Whether the default judgment in USD was affected by the conversion formula in s 4(1)(d) of S.I. 33/19 and s 22 of the Finance Act
- 2 Whether the payment in RTGS dollars extinguished the judgment debt
Ratio Decidendi
The default judgment in USD did not fall within the exceptions of s 44C(2) of the Reserve Bank Act and was therefore subject to conversion to RTGS dollars at a 1:1 rate under s 4(1)(d) of S.I. 33/19 and s 22 of the Finance Act. Payment in RTGS extinguished the debt.
Court Disposition
application dismissed
Orders
- The application is hereby dismissed with costs.
Full Case Text
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