Iguana Projects (Pty) Ltd v Oaktree Investments (Pty) Ltd (26417/20) [2021] ZAGPJHC 624 (4 November 2021)

Iguana Projects (Pty) Ltd v Oaktree Investments (Pty) Ltd (26417/20) [2021] ZAGPJHC 624 (4 November 2021)

The respondent failed to provide a credible or satisfactory explanation for the excessive delay in filing its answering affidavit, and the alleged oral settlement agreement was based on inadmissible hearsay and was not supported by any confirmatory evidence. Even if the legal validity of an oral settlement agreement in the context of a non-variation clause were accepted, the respondent's version was so far-fetched and contradictory that it could be rejected on the papers. Accordingly, condonation for the late filing of the answering affidavit was refused, and the applicant was entitled to judgment for the outstanding capital amount, together with interest at the statutory rate and...

Citation
[2021] ZAGPJHC 624
Parties
Applicant: Iguana Projects (Pty) Ltd; Respondent: Oaktree Investments (Pty) Ltd
Court
South Gauteng High Court, Johannesburg
Jurisdiction
South Africa
Judgment Date
4 November 2021
Case Number
26417/20
Procedural Posture
Civil Application / Opposed Motion; Application for Condonation and Final Judgment
Outcome
Application for condonation refused; judgment granted for applicant on capital amount, interest, and punitive costs.
Judges
Fourie
Legal Topics
Construction Contracts, Condonation, Interest on Judgments, Non Variation Clause, Settlement Agreement
Commercial and Corporate Civil Procedure Construction Contracts Condonation Interest on Judgments Non Variation Clause Settlement Agreement

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Parties

Iguana Projects (Pty) Ltd

Applicant

Oaktree Investments (Pty) Ltd

Respondent

Procedural Posture

Civil Application / Opposed Motion; Application for Condonation and Final Judgment

Legal Issues

  1. 1 Whether condonation should be granted for the late filing of the respondent's answering affidavit.
  2. 2 Whether the respondent has established a valid oral settlement agreement as a defence to the applicant's claim.
  3. 3 Whether the applicant is entitled to payment of the outstanding capital amount and interest.

Ratio Decidendi

The respondent failed to provide a credible or satisfactory explanation for the excessive delay in filing its answering affidavit, and the alleged oral settlement agreement was based on inadmissible hearsay and was not supported by any confirmatory evidence. Even if the legal validity of an oral settlement agreement in the context of a non-variation clause were accepted, the respondent's version was so far-fetched and contradictory that it could be rejected on the papers. Accordingly, condonation for the late filing of the answering affidavit was refused, and the applicant was entitled to judgment for the outstanding capital amount, together with interest at the statutory rate and...

Court Disposition

Application for condonation refused; judgment granted for applicant on capital amount, interest, and punitive costs.

Orders

  • The application for condonation for the late filing of the respondent's answering affidavit is refused.
  • The respondent is ordered to pay the applicant the amount of R5 765 211.62, together with interest thereon at the rate determined in section 1 of the Prescribed Rate of Interest Act, 55 of 1975.