Stephen T Chifamba
Harare (NewsoftheSouth) – THE wrangle for the late property mogul Edward Nyanyiwa, better known as Eddies Pfugari, has taken a new twist after the executor for his late third wife accused him of defrauding her with regard to their empire.
The case will be heard before High Court judge Justice Musithu this Thursday.
Stern Mafara executor of Pfugari’s late third customary wife, Mildred, is the applicant in the matter and he wants her and Pfugari declared the only people with shareholding in the empire.
This is despite official documents and a will by the late property mogul indicating that half the shares belong to his eldest son, Edward Nyanyiwa Junior.
Mildred’s children, Stephen and Henrietta are trying to elbow Nyanyiwa junior out of the estate and have joined hands with two other children from the businessman’s second wife.
Nyanyiwa Junior is the son of his first wife of South African origin.
Pfugari’s siblings are at loggerheads over the estate with the case still pending before the courts.
The High Court quashed an earlier application to have Nyanyiwa Jnr deported to South Africa after it ruled he was a legitimate Zimbabwean citizen by decent and had the right to his father’s estate as specified in the will.
Interestingly, by the time their father died, only Edward Jnr was in good books with him as the other children had become estranged.
Mafara cited as defendants Clever Mandizvidza executor of Pfugari’s estate, Edward Nyanyiwa Jnr, Eddies Pfugari Pvt Ltd who is a holder of shares in Pfugari’s 12 companies, E Pfugari Pvt Ltd and other companies.
Also cited as respondents are the Registrar of Companies, Deeds and the master of the High Court.
“The late Mildred Nyanyiwa together with her husband Edward Nyanyiwa to whom she was married in terms of the Marriage Act in 1965 formed the 3rd defendant, a company called Eddies Pfugari Pvt Ltd in 1980 and in which they were both directors with equal shareholding. The company was named from the latter’s first name and the former’s nickname (Pfugari) in recognition of their business partnership,” said Mafara.
He said through the companies the couple acquired other companies which they registered in Eddies Pfugari Pvt Ltd name.
Both are alleged to have put all their energy and resources into their empire and all the companies belonged to Eddies Pfugari’s Pvt Ltd.
It is alleged in 1995 Pfugari incorporated E. Pfugari’s in violation of the Deeds Act and unlawfully caused Whitecliff Farm to be transferred from Eddies Pfugari Pvt to E Pfugari Pvt Ltd without the endorsement of Mildred.
It is argued Mildred was entitled to 50% shareholding in all the companies by virtue of the funds used to acquire the same.
“Moreover Edward Nyanyiwa (Pfugari) misrepresented to the late Mildred Nyanyiwa that she was a 50%share3 in the 4th to 16th defendants (the companies) or fraudulently and without Mildred’s knowledge or consent caused shares in some those companies to be unlawfully issued to himself alone or together with third parties who had not paid for them or the assets registered in the names of those entities,” reads part of court papers.
It is alleged that Pfugari altered 4th 9th and 13th companies to reflect himself as a 50% shareholder and consequently of the 7th and 13th companies as they are wholly owned by E Pfugari Pvt Ltd.
He is accused of having fraudulently altered the status of other companies in his favour in connivance with his executor thereby defrauding Mildred.
“The plaintiff as the executor of Mildred’s estate is entitled to recover what is due to the estate on its behalf,” said Mafara.
He is seeking an order declaring the companies to be wholly owned by Eddies Pfugari Pvt Ltd, an order declaring Mildred to be a 50% shareholder, an order declaring Pfugari a 50% shareholder an order removing any other person claiming to be a shareholder except Mildred and her late husband.
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