By A Correspondent – Controversial preacher and Prophetic Healing and Deliverance Ministries leader Walter Magaya, alongside his wife Tendai, is facing liquidation proceedings at the High Court over an unpaid US$420,140.72 debt owed to GetBucks Microfinance Bank.

The application, filed in the Commercial Division of the High Court, follows a judgment issued on October 9, 2024, ordering the Magayas and their company, Planet Africa (Pvt) Ltd, to repay the bank with 10% interest per month from September 11, 2024, until the debt is fully paid.

Despite numerous recovery attempts, the bank says the couple remains insolvent.

Movable assets at their home were shielded through a successful interpleader filed by the Walter Magaya Family Trust, while assets at Planet Africa’s offices were claimed by PHD Ministries, also led by Magaya.

A property under Deed of Transfer 4076/2018 was set for auction on March 28, 2025, but the sale was stopped after Planet Africa entered voluntary corporate rescue.

GetBucks argues that all recovery avenues have been exhausted, prompting the call for liquidation under Section 6 of the Insolvency Act (Chapter 6:07).

The bank nominated Noreen Chikaka of Reign Management Consultancy (Pvt) Ltd as liquidator, citing her professional expertise.

The application claims liquidation is in the best interest of all creditors, as it would prevent further debt accumulation and force the Magayas to reveal financial information allegedly being concealed.

Alarmingly, the bank also petitioned the court to order the surrender of the couple’s passports, warning they could flee to evade accountability.

“The respondents have no known assets and have neglected statutory demands,” the application reads. “They may want to leave the country to evade the law… liquidation will force them to account for their financial affairs.”

The case is scheduled to be heard in the High Court on Wednesday.