Hyprop Investments Limited v New Age Concepts (Pty) Limited t/a Reads (2023/028461)
Hyprop Investments Limited v New Age Concepts (Pty) Limited t/a Reads (2023/028461) [2024] ZAGPJHC 577 (20 June 2024)
The court found that, although the mortgage bond contained a cession of rights to Nedbank, the relevant clauses (8.2 and 8.3) provided for automatic re-cession of rights to the applicant upon the institution of legal proceedings or the issuing of a letter of demand, unless there was a default requiring Nedbank's consent. As no default was alleged, the applicant's rights to enforce the lease and seek ejectment were automatically re-ceded. The court distinguished the present case from Picardi Hotels, noting the different wording of the bond. The applicant, as owner, retained the right to posses…
Source excerpt
- Ejectment
- Locus Standi
- Mortgage Bond Cession
- Lease Termination
- Costs On Attorney Client Scale