NEDBANK WANTS OVER E3M FROM TZ CONCRETE

MBABANE – Nedbank (Swaziland) Limited is demanding over E3 million from TZ Concrete Products Manufacturers (Pty) Ltd.

TZ Concrete has been cited as the first defendant in the matter. 

It is said to be a company duly registered and incorporated according to the country’s company laws whose chosen domicilium citandi et executandi at  Sidwashini Industrial Sites in Mbabane. The Latin words mean the address nominated by a party in a legal contract where legal notices may be sent.

Capacity

Thulani Dlamini and Nompumelelo Dlamini have been cited as second and third defendant, in their alleged capacity as surety and co-principal debtor to the first defendant. Completing the line-up of defendants are the trustees for the time being of Ingcamu Family Trust. Thulani Dlamini and Nompumelelo Dlamini were cited as the trustees for the time being.Nedbank has instituted action against the defendants jointly and severally the one paying of the other to be absolved.  The reputable financial institution is claiming the payment for the sum of E2 395 475.32, being in respect of monies reportedly lent and advanced as an urban home loan in June 2017 to the first defendant at the latter’s special instance request. The monies are now allegedly due.

Another prayer for the bank is an order declaring Lot No.2835 situated in the Mbabane Extension No.8 (Sidwashini Industrial Township) measuring 2 075 square metres and held by the Mortgagor executable.

In the second claim, the bank is demands the payment of E765 211.92 being in respect of mony (business loan) allegedly advanced to the first defendant. The bank claimed the money was now due and the defendant was allegedly neglecting to pay.

Claim

An order declaring Portion 8 (a portion of  Portion 6) of Farm 289 situated in the Shiselweni Region and measuring 104 360 exuctable. “The plaintiff’s claim against the second, third and fourth defendants is for payment of the sum of E765 211.92, that being the amount for which they bound themselves jointly and severally as sureties and co-principal debtors to the plaintiff  for any and all debts owing and owed by the first defendant,” averred Nedbank. 

The plaintiff further wants the sum of E930 628.51, being in respect of monies reportedly lent and advanced on overdraft by the plaintiff in April 2018 to the first defendant. This brings the total for the claim to over E3 million.

These are allegations contained in summons whose veracity are still to be tested be tested in court.

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