Ex-Govenor's Son Dragged To Court Over Excavator

Ex-Govenor's Son Dragged To Court Over Excavator
Published: 2016 June 08 08:46:08 (1925 Views)
Former Midlands Governor Cephas Msipa’s son, Cephas Mandlenkosi Msipa Jnr, has been taken to the High Court by a local businesswoman, who is demanding the return of an excavator which the respondent surrendered as surety after failing to settle a $25 000 loan.

Parween Malikyar has since filed an urgent chamber application saying she now feared Msipa would not return her excavator after he allegedly moved it from the mining site where it was being stored to an undisclosed location.

Malikyar further said she had encountered a lot of expenses in repairing the machine with a view to reselling it and was now valued between $45 000 and $60 000.

According to the businesswoman, sometime in August 2014, she entered into a loan agreement with a company known as Lanseria Mining t/a Lanseria Investments. Pursuant to the agreement she loaned and advanced $23 000 to the company.

“Subsequently, the company failed to pay the loan as agreed. As a result, the company duly acknowledged its indebtedness to me in writing on September 30, 2014 in the sum of $25 000, now including the interest component. It also tendered as collateral an excavator,” Malikyar said.

Malikyar said after failing to pay, the company relinquished its title to the excavator, but she did not remove it from the mining site because it was not functional and needed extensive repairs.

However, sometime last month, when she was about to take the excavator to her buyer, she discovered Msipa had removed it from the mining site to an unknown place.

Malikyar further said she approached Msipa over the matter and he indicated he was interested in buying the excavator back, but since then he had shown reluctance to return it to her, prompting the application.

“Despite his promises, respondent (Msipa) did not take any proposal for purchasing the excavator. As a result, I demanded that the excavator be returned to me, but the respondent has refused to return it or allow me to collect it,” she said.

“I submit that this matter ought to be heard and determined on an urgent basis in that respondent is still holding on to my excavator whose estimated value is between $45 000 to $60 000. The excavator has several parts that can be removed, tampered with or even damaged, some of which were effected during repairs on the excavator.”

The matter is yet to be set down for hearing.


- NewsDay
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