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The Lusaka High court has ordered United Party for National Development (UPND) Kabwata member of parliament, Andrew Tayengwa, to pay a money lending company namely Simon Kalunga Associates Financial Solutions a sum of K114,689.64.
Tayengwa got this money under a loan agreement.
The court ordered that Tayengwa admitted owning the plaintiff and that he would liquidate the same amount in three equal monthly installment failure to which the plaintiff shall have liberty to exercise their rights as judgement debtor.
The company also demanded damages for breach of agreement, interest on the amount due, costs and any other relief the court deems fit.
According to a statement of claim filed in the High Court, Tayengwa applied for a loan in July 2022, which was advanced to him in the sum of K71, 726.
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The company lamented that despite an express term of agreement that the loan would be fully repaid on or before August 31, 2022, the defendant has to-date failed to fully liquidate the said loan.
“In or about July 2022, following a loan application at his own instance, the defendant herein was advanced a loan in the sum of K71, 726. It was an express term of the agreement that the said loan was to be fully repaid on or before August 31, 2022 at an agreed interest rate.
“Despite several reminders, the defendant has to date failed, refused or neglected to fully liquidate the said loan which has continued to accrue interest,” read the statement.
But in passing judgement, the court ordered that the defendant having admitted owing the plaintiff the sum of k114,689.64 would liquidate the same in the three equal monthly installments.
“By consent of the parties herein through their respective advocate, it is thereby adjudged as follows; That the defendant having admitted owing the plaintiff the sum of k114,689.64 shall liquidate the same in the three equal monthly installments as follows; a. K38,229.88 shall be paid upon execution of this consent judgement and the same will continue every month until he clears the outstanding balance,” read the judgment.
The court also ruled that if the defendant defaults on any installment, paying the entire outstanding balance, the plaintiff shall have liberty to exercise their rights as judgement debtor.
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