Vyansilati Enterprise Limited has sued Policy Monitoring and Research Centre executive director Bernadette Deka in the Lusaka High Court for failure to pay over K2.6 million, which she borrowed.
Vyansilati Enterprise Limited wants Deka to pay back K2,675,000.00 at 15 percent interest per week from the date of default, being April 27 this year, until the date of the writ.
In a statement of claim filed in the Lusaka High Court principal registry, Vyansilati Enterprise stated that it was a private company limited engaged in the business of civil works, electrical repair and money lending.
It further stated that on or about April 9, this year, Deka at her instance and request, freely and voluntarily entered into an agreement with the company’s director Marvin Chibwe where it was agreed that she borrows K2,675,000.000.
The company claimed that it was an express term of the agreement as accepted by Deka that she would pay back the said sum in two instalments from the date of the agreement.
It stated that upon default by Deka, the said amount could attract interest as at the rate of 15 percent of the total amount due per week.
Vyansilati Enterprise further claimed that despite numerous requests to Deka to settle her indebtedness with interest as agreed, she had to date allegedly failed to make the settlement in part or in full.
It stated that when it’s advocates wrote Deka a demand letter dated May 23 this year, she made promises to pay but added that there had been no effort from her to honour the said promises, causing the company to suffer loss of business, profit and inconvenience.
The company is now claiming payment of the money with interest at the average short term deposit rate per annum from the date of the writ to the date of the judgement and thereafter, at the rate not exceeding the current lending rate as determined by Bank of Zambia.
It’s further claiming damages for breach of contract.