Africa-Press – Eswatini. Swaziland Building Society (SBS) wants over E8 million from three companies that are mainly in the construction sector.
Matsapha-based Du-Van Developers (Proprietary) Ltd, a company duly registered and incorporated according to the company laws of the country, has been cited as the first defendant in the matter. Unison Concrete (Proprietary) Ltd company duly registered and incorporated according to the company laws of the country, has been cited as a second defendant in its alleged capacity as surety and co-principal debtor of the first defendant. Its chosen location is said to be in the Hhohho Region.
Peebles, another company duly registered and incorporated according to the company laws of the Eswatini, is said to be third defendant on grounds of being the surety and co-principal debtor of the first defendant. Its location is said to be in the Manzini Region. Businessman, Maurice du Pont has been mentioned as the fourth defendant. He is an adult male cited in his capacity as surety and co-principal debtor of the first defendant.
SBS, a body corporate duly incorporated in accordance with the provisions of Act No.1 of 1962 trading as a Building Society at Corner Mdada and Dzeliwe Streets, Mbabane, and elsewhere within the country has instituted against the first to fourth defendants jointly and severally the one paying the other to be absolved. The bank wants payment of the sum of E8 008 506 in respect of monies reportedly lent and advanced in February 2009 and September 2011, respectively on loan to the first defendant at the latter’s special instance and/or order. The monies, SBS alleged, were now due and owing as of January 31 this year. The defendant is accused of failing, neglecting and/or refusing to pay the plaintiff. These are allegations in summons whose veracity will be tested in court.
SBS’ claim against the second, third and fourth defendants for payment of the said amount is said to be money 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 to the plaintiff, any one or two paying the other or others to be absolved. Among other prayers, that include interest on the total sum at the rate of prime plus 0.75 per cent per annum from February 1 this year to the date of final payment; SBS also wants an order declaring remaining Extent of Farm Valencia No.273 situated in Manzini and measuring 4.3866 hectares executable.
Other properties SBS wants to be declared executable include Portion 100 (a portion of Portion 41) of Farm No.75 in the Hhohho Region; Portion 20 (a portion of Portion 15) of Farm No. 1 185 situated in Manzini and measuring 2.7063 hectares; and Portion 99 of the Farm ‘Trelawny Park’ No. 868 located in the urban area of Manzini and measuring 3 202 square metres.
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