WHITE RIVER – A dispute concerning R2,2 million reportedly loaned towards the purchase of Jatinga Country Lodge, resulted in a court order against owner Mr Jan du Preez last week.
Du Preez, who was ordered to pay this amount to Kasmira Investments CC in terms of a contract he deems unenforceable, will now appeal this summary judgement granted in the White River Magistrate’s Court on Wednesday.
Mr Eric Mouritzen, representative of Kasmira Investments, says that the closed corporation loaned Du Preez more than R3 million enabling him to purchase Jatinga Country Lodge in 2014. According to Mouritzen, Du Preez tried to wriggle out of paying his debt by using the legal requirements of the National Credit Act.
“In terms of this act, Kasmira had to register as a credit provider prior to loaning Du Preez the money. This requirement has since been abolished in the High Court in Pretoria,” Mouritzen told the paper last week.
According to Kasmira Investments’ particulars of claim, the loan agreement between Kasmira and Du Preez was mentioned in the agreement of sale concluded between Jatinga’s former owners, Glowing Autumn Trading 52 (Pty) Ltd and Du Preez. In terms of the agreement, the lodge was sold for R6 275 000.
A loan account of R3 million would have been be created on the same day, in terms of which Du Preez would loan that amount from Kasmira Investments. In terms of the loan account, Du Preez had to repay the amount and interest, calculated at seven per cent per year, thereon in 120 monthly instalments.
A mortgage bond was registered over the property on March 13, providing Kasmira with security, should Du Preez fail to effect payment of the bond amount. On April 2 an amendment agreement stipulated that he still had to pay Kasmira a total of R 2 300 000, of which R100 000 was due to an attorney in Middelburg.
When due payment was not received, the summary judgement was obtained stipulating that he had to pay R2,2 million to Kasmira. Although the plaintiff also requested that the property be declared executable, no comment was received from Mouritzen on whether this was included in the court order.
Du Preez’s attorney, Mr Riaan Jacobs, refused to provide the paper with his client’s particulars of claim. “This case has the potential to make it to the Constitutional Court.
“You are welcome to attend to the court case then.” Jacobs said he had based his client’s plea on a Constitutional Court case stating that registration as a credit provider was compulsory for those loaning more than R500 000 in any one transaction.
Jacobs added that his client had not borrowed the money to purchase the lodge, but did not elaborate on this statement.
