Liquidated Interfin Bank has approached the High Court seeking to recover over $188 000 it is owed by former National Social Security Authority (NSSA) investment director Shadreck Vera.
CHARLES LAITON
The bank sent the summons in November last year after Vera allegedly failed to service the debt.
The lawsuit against the former NSSA boss came barely a month after he was fired in October together with the entire top management team, including chief executive officer James Matiza on allegations of gross incompetence and abuse of funds.
Although it was not made clear in the court papers when Vera acquired the loan from the bank, the information contained in the bank’s particulars of claim indicated Vera allegedly acknowledged he owed the financial institution.
Through its lawyers Sawyer & Mkushi Legal Practitioners, the bank claims Vera signed a written acknowledgement of debt on September 3 last year.
Interfin said Vera on September 3 2015 signed an acknowledgement of debt agreement for “$188 590, 60 as at the 24th of June 2015 together with interest at the rate of 15% per annum.”
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He borrowed the money between 2010 and 2011. Vera was supposed to make “quarterly payments of $30 000 commencing September 2015.” However, he has failed to pay anything.
The former NSSA boss has since filed an appearance to defend notice and is set to challenge the claim.
