Lenders beware! – Gather your debts while you may
Here is a tricky matter – and for the creditor a harsh lesson. The case of Trinity Asset Management Ltd (“Trinity“) / Grindstone Investments 132 (Pty) Ltd[1] (“Grindstone“) is a warning for lenders and attorneys alike. At stake was R3 050 000.00 (excluding interest) which Trinity had loaned to Grindstone in terms of an agreement concluded on […]
Beware the catch all indebtedness
Man goes to bank to borrow R1 000 000.00. Bank agrees, but says it wants security. Okay says the man; what do you want? Bank says; mortgage bond over property. Man agrees. Bank says we will instruct our attorney to prepare the documents. Man says that’s cool. Man gets phone call from attorney to come […]