State diamond miner wins temporary reprieve as Constitutional Court halts execution of nearly US$18 million debt
Zimbabwe's Constitutional Court has granted the state-owned Zimbabwe Consolidated Diamond Company (ZCDC) a temporary stay of execution regarding an $18 million debt judgment. The court aims to preserve the status quo while it reviews a constitutional challenge that could impact the company's operations and workforce.
Why it matters
The ruling prevents the immediate seizure of state assets, highlighting the intersection of legal disputes and national economic stability.
THE Constitutional Court has granted the Zimbabwe Consolidated Diamond Company (ZCDC) temporary relief by stopping the execution of a judgment worth close to US$18 million, pending the determination of its constitutional challenge against earlier court rulings in its long-running dispute with Adlecraft Investments.
The ruling spares the State-owned diamond miner from immediate attachment and sale of its assets after it argued that enforcing the judgment before its constitutional application is heard could cripple its operations and jeopardise more than 1,300 jobs.
The Constitutional Court has ruled that the interests of justice required preserving the status quo while the court considers ZCDC’s application for direct access challenging a Supreme Court judgment.
“The application for a temporary stay of execution be and is hereby granted,” the judge ruled.
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