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SUMMARY A property developer obtained a loan facility from Lloyds Bank PLC (the “Claimant”) in the sum of £2,625,000.00 (the “Facility”), which figure was subsequently reduced to approximately £2,500,000.00 (the “Revised Facility Amount”) for the redevelopment of a bingo hall (the “Development”). McBains Cooper Consulting Limited (the “Defendant”) was appointed as the project monitor surveyor
BACKGROUND AND SUMMARY In this case, Shaun Harris (the “Plaintiff”) sought action proceedings to recover the sum of R531 361 plus interest thereon a tempore morae. The debt arose upon the Plaintiff and Rachel Rossouw (the “Defendant”) concluding a loan agreement in terms of which repayment was due, owing and payable (the “Agreement”). The claim
SUMMARY During 2013 Mr Ratlou (“Ratlou”) acquired Phapo Nkone Transport (Pty) Ltd (“PNT”) together with its business. Subsequently, on 24 October 2013, he executed a deed of suretyship in favour of MAN Financial Services SA (Pty) Ltd (“MAN”) to secure a lease agreement between MAN and PNT relating to the lease of trucks and trailers.
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