Nedbank Limited v Mabena (A324/16)
Nedbank Limited v Mabena (A324/16) [2017] ZAGPPHC 125 (30 March 2017)
The court found that the appellant's claim against the respondent was liquidated, as it was based on the misappropriation of a specific sum of money (R1,361,454.44) from the deceased estate. The respondent's defence that he acted only as director of Morua was rejected, as the evidence showed he personally participated in the misappropriation and acknowledged liability. The Administration of Estates Act imposes personal liability on executors and agents who unlawfully distribute estate funds. The respondent's admissions and conduct established personal liability and satisfied the requirements…
Source excerpt
- Sequestration Proceedings
- Liquidated Claim
- Personal Liability Of Agent
- Administration Of Estates Act
- Fraudulent Misrepresentation