Former Dynamos president, Keni Mubaiwa’s firm, KM Auctions (Pvt) Ltd, has petitioned the High Court seeking an order to compel Dynamos Football Club (Pvt) Ltd to pay him $247 503 plus costs of suit after the football club allegedly failed to settle the debt despite signing an acknowledgement of debt agreement.
BY CHARLES LAITON
Mubaiwa’s firm issued the summons against the football club on August 30, 2018, claiming it lent Dynamos some money, supplied it with vehicles and rendered services, but the latter had failed to make good its debt, prompting the firm to approach the court for recourse.
Dynamos is yet to enter appearance to defend.
“The defendant (Dynamos) was lent monies and supplied with vehicles and rendered services by the plaintiff (KM Auctions) and its subsidiary companies. The total amount owed to the plaintiff was in the sum of $255 503, the defendant managed to pay $8 000 and the balance that now remains is $247 503,” KM Auctions said in its declaration.
“The defendant signed an acknowledged of debt dated June 7, 2018. On that basis, the defendant admits liability to the plaintiff.
“Despite demand, and the fact that the amount is now due and owing, the defendant is refusing, failing or neglecting to pay the said amount. Wherefore, the plaintiff claims from defendant payment of a sum of $247 503 being outstanding balance of money owed to the plaintiff, interest at the prescribed rate per annum from June 7, 2018 to date of payment in full and cost of suit on the level of legal practitioner and client scale.”
Mubaiwa was forced to step down as the club’s president in June this year amid pressure from supporters who called for his resignation following the team’s under-performance in the Castle Lager Premier Soccer League campaign.