KING PIE FACES EJECTMENT OVER E740 000 RENTAL ARREARS

MBABANE – King Pie is wanted out of the Bhunu Mall for rental arrears amounting to over E740 000.

The court has granted an interim order for a deputy sheriff to attach and keep in safe custody the movable goods which are at the two King Pie shops at the Bhunu Mall, pending the institution and conclusion of an action for arrear rentals amounting to E740 034.60 and ejectment from the premises.

According to Musa Hlatshwayo, the Executive Committee Chairman of Bhunu Mall in his founding affidavit, on July 23, 2009, RMS Tibiyo (Pty) Limited leased to King Pie shops No. L10 and U43A situated at the mall in Manzini.

Option

The monthly rentals were E20 740 and E13 975, with escalation rate of 10 per cent per annum. The lease was for a period of five years with an option to renew, and was to expire on May 31, 2014.
He said at the time of expiration, monthly rentals stood at E30 356 and E20 460.80 respectively.

Hlatshwayo said the applicant (Bhunu Mall) and the respondent (King Pie) had other pervious lease agreements and as such, the latter was negotiating for a review of rentals with the object of having same reduced as he alleged that the annual escalation had rendered the rental exorbitant.
He said, however, the request for reduction of rentals was turned down by the Bhunu Mall Management Committee.

Hlatshwayo alleged that on April 2014, RMS Tibiyo delivered to King Pie a new lease agreement for signature but the latter has failed to sign it until today.
He said on or about June 2014, the shareholders of RMS Tibiyo being Tibiyo TakaNgwane, Swaziland National Provident Fund and RMS Manzini Investments, resolved to deregister their company and form a partnership to carry on the property development and management business of RMS (Pty) Limited.

“On May 17, 2016, RMS Tibiyo (Pty) Limited was deregistered and all its assets and liabilities were transferred to the partnership known as Bhunu Mall Partnership trading as Bhunu Mall, the applicants in the matter,” he said.

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