THE Sheriff of the High Court on Thursday seized office property belonging to Maseru Mall after the organisation failed to pay a M240 000 debt that it owes to its former tenant, Fortune Gardens.
The seizure of the movable property follows a May 2020 court order in which Race Course Mall, the company which owns the shopping centre, was ordered to pay M180 979, 94 in compensation for loss of business.
Race Course Mall was also ordered to pay an extra M66 962, 57 in interest calculated at 18.5 percent per annum starting from last October when the judgement was made.
Fortune Gardens approached the court two years ago after Race Course Mall failed to return the equipment and goods that it had seized in 2015.
After seizing the equipment and goods, the two parties later reached an out of court settlement which entailed that Race Course Mall would return them. It however, failed to return the goods and Fortune Gardens the approached the Commercial Court two years ago.
Fortune Gardens started operating its restaurant at Maseru Mall in 2012 and left in 2015 after the seizure of its property. It was forced to suspend operations and its property was removed from the premises to make way for a new tenant.
The two reached an out of court settlement but the landlord failed to return the goods forcing the tenant to approach the courts.
The late Justice Lebohang Molete on 19 May ordered Race Course Mall to pay M180 979.94 and an extra M66 962.57 in interest calculated at 18.5 percent per annum starting from last October.
Despite Justice Molete’s order, Race Course Mall failed to pay the money forcing them to approach the courts for a writ of execution. The writ of execution was granted on 30 September.
“You are hereby directed to attach and take into execution the movable goods of Race Course Mall (Pty) Ltd, …to be realised by public auction the sum of M180 979.94 plus interest in the sum of M66 962.57 at the rate of 18.5 percent per annum calculated from October 2018… payable for Fortune Gardens… which amount it recovered by judgment of the court in the above mentioned case on the 19 May 2020,” reads the order.