The plaintiff, the Zimbabwe Development Bank, hereinafter referred to as the bank, issued summons out of this court on 17 December 2004 seeking, against the three defendants jointly and severally, the one paying the others to be absolved, payment of $587 612 879.86 and interest thereon capitalized monthly at 1% per day calculated from the date of issue of summons to the date of full payment and costs of suit on a legal practitioner scale and collection commission as provided for under the Law Society of Zimbabwe By-laws 1982. On 6 January 2005, the defendants entered appearance in which they...
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On the 27th of January 2003, the plaintiff filed summons claiming payment in the sum of US$ 715,185.66, together with interest and costs on the higher scale. The defences proffered by the defendants are that the plaintiff is not entitled to judgement in United States dollars (US$) and that, in any event, they have already tendered payment in the Zimbabwe dollar ((ZW$) equivalent.
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