A multi millionaire Zimbabwean businessman, Danny Mavura Huruyadzo had his bank account with USD155 Million frozen by a South African bank after a dispute with his business partner, Herbet Woods.
The Standard Newspaper reports that Woods and Huruyadzo had a joint venture and after being paid, Huruyadzo only paid USD5 million to Woods and then left for Zimbabwe.
Woods approached the courts and successfully froze the bank account of Huruyadzo’s company, Cashfields Private Limited.
An out of court settlement reached between the two parties will result in Huruyadzo paying Woods’s company, Hibernic Energy, an amount of USD65 Million.
Please read the full story in today’s Standard Newspaper 31 December 2023.