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AI summary
The Western Cape High Court dealt with an application arising from a written acknowledgement of debt and suretyship for R12 million. The court considered points about the founding affidavit, the suretyship formalities and the calculation of the amount claimed, and ordered the second respondent to pay R17 600 000.00 plus interest and costs.
This appears to concern debt recovery, suretyship formalities and affidavit compliance, and may be relevant to commercial litigation matters.
Evidence from source
The second respondent is ordered to pay the applicants the amount of R17 600 000.00 together with interest thereon from date of judgment, calculated at 2.5% per month until date of final payment.
Supports: order and amount