Fedbond Nominees (Pty) Ltd v Import Export 2020 (Pty) Ltd and Another (7042/2020) [2022] ZALMPPHC 67 (2 December 2022)

Fedbond Nominees (Pty) Ltd v Import Export 2020 (Pty) Ltd and Another (7042/2020) [2022] ZALMPPHC 67 (2 December 2022)

The applicant established its claim by producing certificates of indebtedness in terms of the mortgage bonds, which serve as prima facie proof of the debt. The respondents did not dispute the underlying agreements or the fact of indebtedness, but raised objections to the calculation of interest and inclusion of VAT. The applicant corrected these errors and recalculated the amount owed, ultimately claiming less than the recalculated sum to avoid prejudice to the respondents. The respondents failed to provide any evidence of a lesser amount owed or to rebut the evidential value of the certificate. The court found no prejudice to the respondents from the recalculation and held that the...

Citation
[2022] ZALMPPHC 67
Parties
Applicant: Fedbond Nominees (Pty) Ltd; Respondent: Import Export 2020 (Pty) Ltd; Respondent: Fred Van Heerden
Court
Limpopo High Court, Polokwane
Jurisdiction
South Africa
Judgment Date
2 December 2022
Case Number
7042/2020
Procedural Posture
Civil Application / Final Judgment
Outcome
Application granted in favour of the applicant; respondents ordered to pay the claimed amount, interest, and costs; mortgaged properties declared specially executable.
Judges
TC Lithole
Legal Topics
Mortgage Bond Enforcement, Certificate of Indebtedness, Specific Executability, Loan Agreement, Attorney and Client Costs, Interest Rate Dispute
Banking and Finance Land and Property Civil Procedure Mortgage Bond Enforcement Certificate of Indebtedness Specific Executability Loan Agreement Attorney and Client Costs +1 more

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Parties

Fedbond Nominees (Pty) Ltd

Applicant

Import Export 2020 (Pty) Ltd

Respondent

Fred Van Heerden

Respondent

Procedural Posture

Civil Application / Final Judgment

Legal Issues

  1. 1 Whether the applicant has proved the respondents' indebtedness under the loan agreements and mortgage bonds.
  2. 2 Whether the certificate of indebtedness constitutes prima facie proof of the amount owed.
  3. 3 Whether the respondents are prejudiced by the recalculation of interest and exclusion of VAT.

Ratio Decidendi

The applicant established its claim by producing certificates of indebtedness in terms of the mortgage bonds, which serve as prima facie proof of the debt. The respondents did not dispute the underlying agreements or the fact of indebtedness, but raised objections to the calculation of interest and inclusion of VAT. The applicant corrected these errors and recalculated the amount owed, ultimately claiming less than the recalculated sum to avoid prejudice to the respondents. The respondents failed to provide any evidence of a lesser amount owed or to rebut the evidential value of the certificate. The court found no prejudice to the respondents from the recalculation and held that the...

Court Disposition

Application granted in favour of the applicant; respondents ordered to pay the claimed amount, interest, and costs; mortgaged properties declared specially executable.

Orders

  • The respondents' application for leave to introduce a further affidavit is dismissed with costs, including costs of senior counsel.
  • The respondents, jointly and severally, are ordered to pay the applicant the sum of R27,017,493.66.