Faida Trading and Clearing Enterprises CC v Nedbank Namibia Limited (143 of 2014) [2018] NAHCNLD 66 (23 July 2018)

Faida Trading and Clearing Enterprises CC v Nedbank Namibia Limited (143 of 2014) [2018] NAHCNLD 66 (23 July 2018)

The defendant, through its employee, acted negligently and in breach of contract by disregarding the plaintiff's clear instructions and failing to verify contradictory information, resulting in financial loss to the plaintiff. The indemnity clause cannot shield the defendant from liability for its own negligence or...

Source-derived case information.

Citation
[2018] NAHCNLD 66
Parties
Plaintiff: Faida Trading & Clearing Enterprises CC; Defendant: Nedbank Namibia Limited
Court
Northern Local Division
Jurisdiction
Namibia
Judgment Date
23 July 2018
Case Number
143 of 2014
Procedural Posture
Civil / Judgment
Outcome
judgment for the plaintiff
Legal Topics
Breach of Contract, Negligence, Indemnity Clauses, Fiduciary Duty, Public Policy
Source Language
english
Contract Law Banking Law Tort Law Breach of Contract Negligence Indemnity Clauses Fiduciary Duty Public Policy

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Parties

Faida Trading & Clearing Enterprises CC

Plaintiff

Nedbank Namibia Limited

Defendant

Procedural Posture

Civil / Judgment

Legal Issues

  1. 1 Whether the defendant breached its contractual and/or fiduciary duty to the plaintiff
  2. 2 Whether the defendant was negligent in effecting the money transfer
  3. 3 Whether the indemnity clause shields the defendant from liability in cases of negligence or breach

Ratio Decidendi

The defendant, through its employee, acted negligently and in breach of contract by disregarding the plaintiff's clear instructions and failing to verify contradictory information, resulting in financial loss to the plaintiff. The indemnity clause cannot shield the defendant from liability for its own negligence or breach, as this would be contrary to public policy.

Court Disposition

judgment for the plaintiff

Orders

  • Plaintiff's claim against defendant in the sum of US$39300 with interest a tempora morae is granted.
  • Defendant shall pay plaintiff's costs as specified: one instructing and one instructed counsel up to close of plaintiff's case; one counsel for opposition and arguing for absolution from the instance and for defendant's case.