HARARE – High Court judge Justice Faith Mushure has reserved her judgement in a case in which mining giant Zimasco (Pvt) Ltd is seeking to block takeover by businessman Shepherd Tundiya’s Avim Investments (Pvt) Ltd.

Mushure has also ordered the Master of the High Court to stay the corporate rescue process pending her judgement on that matter.

Zimasco had approached the High Court seeking to block attempts by Tundiya to seize control of the mining company.

This followed a recent order by the same court believably granting Avim lnvestments the right to take over the prominent mining and chromite ore smelting company.

The order was issued by Justice Mambara and was allegedly not directed at Zimasco but a completely unrelated and non-registered entity, Sinosteel Zimasco (Pvt) Ltd, as confirmed by a company registry search.

Despite this discrepancy, Tundiya, in collaboration with Wilson Manase and businessman Denny Marandure, allegedly attempted to gain control of Zimasco’s bank accounts at Ecobank by instructing the bank to alter the account signatories in their favour.

This was on March 17, 2025.

The bank however declined to comply, asserting that the court order did not pertain to Zimasco (Pvt) Ltd.

In addition, the order had not been served on Zimasco Pvt Ltd but was instead presented directly to the bank.

Following the failed attempt at the bank, the individuals visited Zimasco (Pvt) Ltd’s head office, claiming authority to take over the company’s management under the purported court order.

According to Zimasco management, the order was against Sinosteel Zimasco (Pvt) Ltd, not Zimasco (Pvt) rejected their actions.

Avim Investments, with the assistance of Kwande Legal Practitioners, later filed an application to “correct” the court order, to show that Sinosteel Zimasco (Pvt) Ltd was operating as Zimasco (Pvt) Ltd.

This application was heard by Justice Mambara, who granted the order.

The company said it was never notified, even though it was an affected party.

Zimasco and Ecobank were also served.

Armed with the modified court order, Manase and his associates renewed their attempt to gain control of Zimasco’s accounts.

Ecobank refused to comply, maintaining that the corporate rescue order applied to Sinosteel Zimasco (Pvt) Ltd, not Zimasco (Pvt).

The standoff resulted in the present court application being filed on an urgent basis.

Zimasco (Pvt) Ltd also lodged formal complaints with the Judicial Service Commission regarding Justice Mambara’s handling of the matter and with the Law Society of Zimbabwe against Manase & Manase and Kwande Legal Practitioners for alleged unethical conduct.