South African Land Arrangements CC & Others v Nedbank LTD (20063/2014)
South African Land Arrangements CC & Others v Nedbank LTD (20063/2014) [2015] ZASCA 88 (29 May 2015)
The court found that the restructuring agreement relied upon by the appellants never came into effect as its suspensive conditions were not fulfilled and not all parties had signed it. Therefore, it could not constitute a defence to the bank's claim, nor could any breach of its terms be relied upon. The appellants admitted their indebtedness and failed to disclose any material facts supporting their alleged counterclaim. The application to adduce further evidence was not properly made and lacked exceptional circumstances. The application for postponement of the appeal was dismissed as the app…
Source excerpt
- Summary Judgment
- Counterclaim
- Liquidated Claim
- Suretyship
- Postponement Of Appeal