REPUBLIC OF SOUTH AFRICA
IN THE HIGH COURT OF SOUTH AFRICA
GAUTENG DIVISION, JOHANNESBURG
Case No:2025/103438
(1) REPORTABLE: NO j
(2) OF INTEREST TO OTHER JUDGES: NO
(3) REVISED YES j
aera i. RO 29 July 2025
SIGNATURE . DATE
In the matter between :
JAMCO SUPPLIES CC Applicant
And
PREFERENCE CAPITAL (PTY) LTD Respondent
JUDGMENT
WANLESS J
Introduction
[1] This application was heard on the urgent roll on the 16" of July 2025 and it was
held that the matter should be heard as one of urgency. Both parties presented full
argument before this Court on that day. Thereafter, judgment was reserved.
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[2] It follows that (despite the onerous workload with which this Court is burdened),
judgment in this matter should be delivered as soon as possible. Arising therefrom, it
is both expedient and necessary for this Court to deliver as concise a judgment in this
matter, as possible. In the premises, this judgment will not be burdened unnecessarily
by setting out and dealing with “extraneous” issues but, rather, will deal with the real
issues, as succinctly as possible.
[3] The Applicant (as set out in the Applicant's Notice of Motion and Draft Order)
seeks (verbatim) the following relief:
“4. Condoning the Applicant’s non-compliance with the rules relating to form,
time and service and dispensing with this application as one of urgency.
2. Ordering the Respondent to forthwith open up the business premises of
the Applicant situated at Unit 4, 120 Main Road, Anderbolt, Boksburg and to
permit Applicant to re-enter the premises and resume trading.
3. Ordering the Sheriff of the Court to, forthwith, re-open the premises
described in 2 above and to ensure that the Applicant is permitted to re-enter
the premises and to continue trading in same. ,
4. Costs of suit. “
The facts
[4] It is common cause, alternatively, cannot be seriously disputed by either of the
parties, that the facts of this matter are:
4.1 on or about the 5S" of October Z0Z0, Jamco Supplies GG (“tic Applicant”)
and Preference Capital CC (“the Respondent’) entered into a written loan
agreement (“the agreement’);
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4.2 onor about the 2" of October 2020 the Applicant executed a general notarial
bond (“the bona’) in favour of the Respondent. In terms of the bond the Applicant
hypothecated its movable assets to the value of R 1.5 million in favour of the
Respondent;
4.3 on the 6"" of May 2025 the Respondent was granted an order (unopposed)
by Mudau J in this Court under case number 2025-056452 (“the perfection
order’);
4.4 the order reads as follows:
“1, The matter is urgent. ;
2. The applicant, alternatively the applicant’s duly authorised agent, are
authorised to perfect the security afforded to the applicant under and by virtue of
a general notarial bond bearing bond number BN24094/2020 ("GNB"), and in
particular to enter in and upon all of the respondent's premises and the premises
of any third party where the respondent's assets may be found, and to take
possession and hold in pledge all of the movable assets of the respondent,
wherever situate up to the value of R1,500.000,00.
3. The applicant is granted leave to approach this Court on these papers as may
be amplified for further relief in respect of the GNB.
4. The applicant is authorised to hold the aforesaid movable assets as security
for payment by the respondent of its debt to the applicant.
5. Pending full execution of the orders in the preceding paragraphs, the
respondent is hereby interdicted and restrained from dealing in anyway
whatsoever with any of its movable assets, including removing, selling.
concealing, disposing or alienating such assets.