National Empowerment Fund v Elikwatinin Three Taxi Association Primary Co-operative Limited and Others (2346/2017)
National Empowerment Fund v Elikwatinin Three Taxi Association Primary Co-operative Limited and Others (2346/2017) [2017] ZAGPPHC 813 (20 December 2017)
The court found that both parties failed to adhere to the terms of the loan agreement, specifically regarding joint signatories and the use of funds. The applicant did not make full disclosure of prior litigation and the circumstances leading to the ex parte order. The interim interdict, which froze the fourth respondent's bank account, had the effect of impeding its ability to trade and fulfil its contractual obligations, causing irreparable harm. The essence of interlocutory relief is to restore the status quo pending final determination of the parties' rights. The court held that the appli…
Source excerpt
- Interim Interdict
- Loan Agreement Breach
- Status Quo Restoration
- Urgent Application
- Bank Account Freezing