BACKGROUND Pick n Pay Retailers (Pty) Ltd (the “Applicant”) launched an urgent application to perfect its security in of the form of a general notarial bond (“the Bond”) held in favour of Pine Valley Supermarket (Pty) Ltd (the “Respondent”). The Applicant sought to perfect its security as a result of the Respondent’s failure to effect
SUMMARY Court a quo: Firstrand Bank Limited (“Firstrand”) registered a general notarial bond (“GNB”) over all of the movable assets of Rubaco Boerdery (Edms) Bpk (“Rubaco”). Prior to the liquidation of Rubaco, Firstrand obtained an order perfecting its GNB to the amount of R5,500,000.00 (Five Million and Five Hundred Thousand Rand). Thereafter, the sheriff of