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LCC CAPITAL IN COURT FOR OVER E286 000 ARREARS

10/10/2018 07:19:00 BY TIMES BUSINESS REPORTER

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MBABANE – LCC Capital Consultancy (Pty) Ltd has been taken to court for alleged breach of a lease agreement, which has resulted in accumulation of over E286 000 arrear rentals.

Through their attorneys from Robinson Bertram, Swaziland Property Market, which trades as SPM Estate Agents, has filed an application before the High Court where they are seeking an order directing the consultancy firm to pay E286 260.65.

Providing a background to the matter, in its particulars of claim whose veracity is yet to be tested by the court, SPM Estate Agents submitted that in September 2017, LCC Capital, which was represented by Enziwe Dube, entered into a lease agreement with SPM Estate Agents, who were represented by its Property Director, Jacob Fakudze.

It was stated that the material terms of the agreement were that LCC Capital would be leased out premises known as office suite number 30 on Lot 71, Mlonyeni Building along Dzeliwe Street. It had been agreed and approved by both parties that the lease would subsist for a period of one year commencing from October 1, 2017.

The monthly rentals ought to be the sum of E21 745.50, which rental would escalate after every 12 months during the course of the lease.
“Should the lessee commit a breach of the agreement, including, but not limited to, failure to pay any amount due, the lessor would be entitled to cancel the lease agreement forthwith and demand payment of any amounts due under the lease, including a claim for damages,” read the court papers in part.
It was further submitted that LCC Capital had breached the agreement, in that from September 2017; they had failed to make the monthly rental payment as agreed.

It was stated that as consequence of LCC Capital’s breach, through non-payment of the monthly rentals, the balance which was now due owing and payable at August 31, 2018 was E286 260.65.