Kantor & Immerman exits 'Nssa fights'

HARARE - In a dramatic twist to one of the many battles around Capital Bank Corporation Limited (Capital), Kantor & Immerman (KI) has “renounced agency” from representing the National Social Security Authority in any matters linked to the ex-ReNaissance Merchant Bank (RMB).

This also comes as ReNaissance Financial Holdings Limited (RFHL) has won a confirmation order for Chris Chetsanga and two other directors’ expulsion from its board, and lawyers representing the biochemistry professor and RFHL have consented to the suspension of a de bonis propii judgment against the trio.

While Addington Chinake and KI’s agency revocation relates to at least two key cases around former Capital workers’ opposition to its liquidation, and RFHL’s $600 million damages claim, Gerald Mlotshwa will now represent the state-run pensions administrator in these cases.

According to sources familiar with the development, the Harare law firm has “opted out of the cases in order for the numerous fights not to cloud, if not digress, the bank’s final wind-down”.

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