By John Chimunhu|
Now Daily Business|
Talks between listed conglomerate Meikles Ltd and the Zimbabwe Stock Ecxchange have broken down irretrievably, an executive has confirmed.
Meikles chairman John Moxon said in a statement the diversified group was now taking legal action to claim substantial damages from ZSE and its officials.
“The Company has made an effort to interact and perhaps reconcile with the ZSE. However, it would appear that such an effort is futile,” Moxon said. “It is now appropriate for the Company to proceed with litigation. The company is the plaintiff and is demanding substantial damages from the ZSE, and certain of its officers in their personal capacities.”
Moxon confirmed there had been delays in recovering millions of dollars owed by the Reserve Bank, but said he remained hopeful the group would be reimbursed and it would make a difference to the company ‘s fortunes. He accused some former employees and unnamed business people of sabotaging the firm’s efforts to recover its dues from the central bank.