News Column

Creditor Targets Shaduka Share Sale Proceeds

February 27, 2014

Werner Menges



A CREDITOR of fugitive businessman Lazarus Shaduka is trying to stop Shaduka from benefiting from the sale of his stake in an insurance company until he has received the money he claims Shaduka has owed him for more than six years.

In an order that Judge Maphios Cheda has granted in the Windhoek High Court, Shaduka has been given until 14 March to defend the case in which a building contractor, Israel Mukumba, is suing him for N$225 730 and aiming to have Shaduka's proceeds from the sale of shares in an insurance company, FIS Life Assurance, attached by the deputy sheriff of Windhoek.

Mukumba's close corporation, Cifa Enterprises, is asking the High Court to grant a default judgement against Shaduka for payment of an amount of N$225 730, as well as interest of 20 percent a year on that amount from November 2007 until the debt has been paid in full.

With the interest included, the total amount claimed by Cifa Enterprises amounts to about N$545 000 at this stage.

Mukumba says in an affidavit filed at the court that Shaduka appointed his close corporation as a subcontractor on a construction project in Windhoek in July 2007. According to Mukumba, Cifa Enterprises completed the work it was contracted to do and Shaduka owed it N$250 730 for that work. However, he only paid N$25 000 to the close corporation, Mukumba claims.

Cifa Enterprises took legal action against Shaduka in May 2008, when it lodged a claim for payment of an amount of N$225 730 in the High Court.

Although Shaduka initially took steps to defend the claim against him, he has not filed the required plea in response to the claim, prompting Cifa Enterprises to now ask for a default judgement to be granted against him.

Mukumba states in his affidavit that Shaduka has in the meantime been arrested and charged with the murder of his wife, that he was initially acquitted of murder after a trial in the High Court, and that the acquittal was overturned by the Supreme Court and replaced with a conviction and a sentence of 20 years' imprisonment in December 2012.

Shaduka (40) fled from Namibia on the day the Supreme Court decided that he should have been found guilty of the murder of his wife, Selma Shaimemanya (33), who died after she had been shot in the back in her and Shaduka's home in Windhoek on the evening of 13 July 2008. He has remained a fugitive from justice since crossing the border into Angola on 13 December 2012.

Mukumba says he became aware of the sale of Shaduka's shares in FIS Life Assurance after a report on the transaction was published in The Namibian in November last year.

It was reported that Shaduka sold his stake of 20 percent of the shareholding in FIS Life Assurance for N$2,5 million in April last year, four months after he had fled from Namibia. It was also reported that the shares were sold through a nephew of Shaduka, Tangi Amon Namwandi, who had been given a power of attorney by Shaduka that allowed Namwandi to act on his uncle's behalf.

In terms of the order granted by Judge Cheda, Shaduka has been given time until 14 March to show to the court why a default judgement for payment of N$225 730, plus interest of 20% a year from November 2007 until the date of final payment, should not be granted against him.

He also has to show to the court why the deputy sheriff should not be authorised to attach the proceeds from the sale of his shares in FIS Life Assurance or any other money available in any bank accounts of Shaduka in order to pay the money being claimed by Cifa Enterprises.

The court could also on 14 March issue an interdict stopping Shaduka or any agent of his from removing any money from his bank accounts until Cifa Enterprises' claim against him has been finalised.

With Shaduka's current whereabouts still unknown, Cifa Enterprises was given permission to serve the court order and other documents filed with the court on Shaduka through Namwandi and through publication in The Namibian and another newspaper being published in Namibia.


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Source: AllAfrica


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