RBZ wins Holbud order after sour grain deal

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ZIMBABWE’S Reserve Bank has won a High Court order to block Holbud Limited (Holbud) from attaching its property over a $26 million debt after insisting that it had paid the grain supplier through treasury bills (TBs).
While the central Bank win and reprieve represents Addington Chinake’s second major victory for his client – in as many weeks after the Ecocash debacle – Justice Jester Charewa slammed the brakes on the United Kingdom-based brokerage’s desire to seize the apex bank’s assets pending the finalisation of the case.

“The application for a declaratur in HC 4756 shall be heard at the same time as the confirmation hearing of HC 3207/19,” he said after Holbud had said it had been waiting since 2007 for payments of delivered maize to the country.