Basil Read (Pty) Ltd v Nedbank Ltd and Another (8283/12)
Basil Read (Pty) Ltd v Nedbank Ltd and Another (8283/12) [2012] ZAGPJHC 101; 2012 (6) SA 514 (GSJ) (13 April 2012)
The court found that the applicant failed to join the opposing party and did not provide for service of the application or order, despite the order directly affecting the opposing party's rights. The applicant's attempt to supplement its founding affidavit was refused, as the authorities do not permit supplementation in a Rule 6(12)(c) reconsideration by the applicant. The court held that the advance payment guarantees created independent contractual obligations for the bank to pay the beneficiary, and that disputes between the applicant's subsidiary and the opposing party were irrelevant to…
Source excerpt
- Interim Interdict
- Documentary Credit
- Advance Payment Guarantee
- Rule 6 12 C
- Joinder Of Parties