TRIPOD LOGISTICS Ltd N’UNDI v. CODELOC Ltd
The court held that the notarial settlement agreement of 17/01/2022 between CODELOC Ltd and TRIPOD Logistics Ltd, which converted the debt into shares, was binding and precluded further litigation on the same debt. Since the dispute had already been resolved by a valid notarial instrument, the lower court should not have entertained the claim. The court also found that the applicants were properly notified of the proceedings. As a result, the lower court's judgment was set aside, and CODELOC Ltd was ordered to pay costs and legal fees to TRIPOD Logistics Ltd and Market Impact Ltd.
Source excerpt
- Enforcement of settlement agreements
- Execution of notarial instruments
- Standing to sue
- Damages for breach of contract