Zim GBC News | Harare Correspondent<\/p>\n\n\n\n
Harare-based preacher Prophet Walter Magaya and his wife, Tendai, have temporarily averted the liquidation of their estates after paying US$180,000 to GetBucks Microfinance Bank and agreeing to a settlement plan for the remaining debt.<\/p>\n\n\n\n
This development follows a High Court application filed by GetBucks in June 2025, which sought to liquidate the couple’s estates over an outstanding debt of US$420,140.72. The bank had accused the Magayas of insolvency, alleging a “deliberate effort to evade payment and conceal assets.”<\/p>\n\n\n\n
According to court documents, the parties have now reached an agreement. A deed of settlement has been signed, suspending the liquidation proceedings on the condition that the couple honours the new payment plan for the remainder of the debt.<\/p>\n\n\n\n
This financial reprieve comes amidst a wave of legal and financial challenges for the Prophetic Healing and Deliverance (PHD) Ministries leader.<\/p>\n\n\n\n
Just last week, the High Court authorised the auction of several PHD Ministries assets, including a hotel, lodges, a stadium, and other developments on Stand 168 in Prospect, Waterfalls, Harare. This order was granted in a case brought by Chinese national Li Xiu Yun.<\/p>\n\n\n\n
Earlier this year, the Magayas also narrowly avoided losing another property after their company, Planet Africa (Private) Limited, voluntarily entered corporate rescue proceedings.<\/p>\n\n\n\n
Court records further reveal that previous attempts by other creditors to seize movable property were blocked after the Walter Magaya Family Trust and PHD Ministries filed interpleader claims.<\/p>\n\n\n\n
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Zim GBC News | Global News From An African Perspective\u00a92025<\/strong><\/p>\n\n\n\n <\/p>\n","protected":false},"excerpt":{"rendered":" Zim GBC News | Harare Correspondent Harare-based preacher Prophet Walter Magaya and his wife, Tendai, have temporarily averted the liquidation of their estates after paying US$180,000 to GetBucks Microfinance Bank… <\/p>\n","protected":false},"author":1,"featured_media":9957,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[125],"tags":[],"class_list":["post-9956","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crime-and-court"],"_links":{"self":[{"href":"http:\/\/zimgbcnews.co.zw\/index.php?rest_route=\/wp\/v2\/posts\/9956","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/zimgbcnews.co.zw\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/zimgbcnews.co.zw\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/zimgbcnews.co.zw\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/zimgbcnews.co.zw\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=9956"}],"version-history":[{"count":1,"href":"http:\/\/zimgbcnews.co.zw\/index.php?rest_route=\/wp\/v2\/posts\/9956\/revisions"}],"predecessor-version":[{"id":9958,"href":"http:\/\/zimgbcnews.co.zw\/index.php?rest_route=\/wp\/v2\/posts\/9956\/revisions\/9958"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/zimgbcnews.co.zw\/index.php?rest_route=\/wp\/v2\/media\/9957"}],"wp:attachment":[{"href":"http:\/\/zimgbcnews.co.zw\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=9956"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/zimgbcnews.co.zw\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=9956"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/zimgbcnews.co.zw\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=9956"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}