New Twist To Doves Shareholding Saga

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By Staff Reporter

IN a new and unexpected twist, embattled businessman Farai Matsika has suffered a fresh defeat in the Doves Holdings shareholding saga.

The fresh High Court judgment has suspended a court order which Phibeon Busangabanye alleges to have been obtained by Kereke and Matsika through fraud.

In his application for stay of execution, Busangabanye averred that Farai Matsika connived with Munyaradzi Kereke to mislead the High Court and spuriously obtained a court order confirming the cancellation of the agreement of sale for the acquisition of shares in Doves.

According to the court papers, Matsika fraudulently entered a consent to Kereke’s application without a resolution from the company.

His affidavit states as follows: “ The learned Judge was misled by the parties thereto to believe Transfrontier had indeed consented to the grant of the order when in fact no such decision had been made by Transfrontier. Instead, it was the mere and isolated acts of Farai Matsika in pursuit of his selfish ends that saw to the so called consent.”

The urgent Application also complained that both Kereke and Matsika misled Judge Philda Muzofa into granting an order by not disclosing that the main shareholding dispute was already pending before the High Court.

In a fresh judgment that suspends the operation of Kereke’s order, High Court Justice Emilia Muchawa stated: “What is evident is that Farai Matsika and Dr. Kereke have simply made about turns in the consent order and in HC 3364/20.

The High Court judgment also concludes Matsika did not have the authority to consent on behalf of Transfrontier.

Justice Muchawa considered that: “Matsika has fraudulently consented to the order against its interests without getting requisite authority from the second applicant (Busangabanye) as co-director.

“It was clear that there could not be a meeting of directors and expect him to vote against his own interests,” said Justice Muchawa.

The judge also prohibited Kereke and Matsika from dealing in Doves shares.

She also chastised Kereke for attempting to frustrate her adjudication of the case by writing letters addressed to her superiors.

The judgment reads: “Undeterred, Kereke penned another letter on the 25th of November 2021, this time marked to the attention of the Judge President. He did this well knowing that judgment had been reserved in this matter”.

“As someone represented by legal practitioners who briefed an advocate to argue his matter, Kereke’s behaviour is despicable”.

In another chastisement, the judge said “Kereke is no stranger to this court and he should know that his behaviour is unacceptable.”

This application comes in the middle of what has been an intense battle for the control and ownership of Doves Holdings in which numerous accusations of fraud have been made against Matsika.

It also comes in the wake of a fresh scandal involving mishandling of deceased persons’ bodies at Doves with Matsika at the helm and a troubling defeat at the Supreme Court in his battle for Croco Motors in which the court called him out as a fraudster.

Kereke is also in the limelight for other reasons, having recently won a temporary freedom bid when his application for bail pending appeal against his rape conviction was granted by the Supreme Court.

The Supreme Court application for his review is yet to be heard.