Zimbabwean businessman Lovemore Kurotwi has lost a long-running legal battle over about 3.6 million tied to the defunct Canadile Miners diamond venture, after the Supreme Court dismissed his appeal and upheld earlier rulings that awarded the funds to Core Mining Minerals Resources Pty Ltd, a former South African partner in the collapsed project.
The judgment, delivered in Harare, confirmed a previous High Court decision that placed the funds held at AFC Commercial Bank under Core Minings liquidation proceedings. The ruling effectively ends Kurotwis attempt to reclaim the money, which he said belonged to his company, Canadile Miners.
Diamond venture turns into legal dispute