Witvlei Meat threatens to terminate talks with Agribank
Witvlei Meat says it intends to stop all settlement negotiations with Agribank of Namibia if the latter does not comply with a number of agreements within three days from yesterday.
Alternatively, Witvlei Meat requests a written extension of settlement negotiations with definite dates for decisions to be reached, failing which it says it will cancel agreements reached so far and threatens with court action to recover all losses and damages incurred due to a protracted standoff between the two entities.
Agribank has failed to restore Witvlei Meat's occupation of the abattoir at Witvlei despite a High Court order in April 2016 to that effect. Witvlei Meat has been renting the abattoir from Agribank since August 2006.
In a statement issued yesterday Witvlei Meat said Agribank should have transferred the abattoir to it in 2010 already.
It said Agribank “deliberately” failed to do so. As a result of this deliberate conduct, Witvlei Meat maintains that it has therefore become the rightful owner of the abattoir “by means of the doctrine of fictional fulfilment in 2010” as has been confirmed by an appeal court judgement in 2013.
It said while Agribank thus far has failed to fulfil the transfer of ownership of the abattoir, the parties have confirmed by agreement that all legal matters between them be placed on hold since 24 August 2016.
Both parties' lawyers were then instructed not to incur further costs pending settlement negotiations.
Witvlei Meat stated that Agribank is well aware that its conduct has caused Witvlei Meat losses of about N$60 million.
This figure was reportedly determined by independent actuaries whose appointment was jointly agreed between the parties since the start of the settlement negotiations and whose findings were accepted by Agribank as correct.
In May the two parties reportedly agreed that Agribank's board would review a decision on a loan application of N$35 million turned down despite Witvlei Meat complying with all conditions specified by the bank's board on 13 April.
An alternative suggestion was that the abattoir be transferred to Witvlei Meat at Agribank's cost.
This cost order was awarded by the Supreme Court as well as the cost order as awarded by the High Court in full and final settlement between the two parties.
“Witvlei Meat made a genuine attempt without prejudice to its rights to find a practical solution in the interest of all concerned, failing which Agribank were to make counter proposals to be considered by the parties in an attempt to reach full and final settlement,” the company stated.
It said Agribank has since been given ample time to comply, but that it has “without proper reason” materially failed to do so.
CATHERINE SASMAN
Alternatively, Witvlei Meat requests a written extension of settlement negotiations with definite dates for decisions to be reached, failing which it says it will cancel agreements reached so far and threatens with court action to recover all losses and damages incurred due to a protracted standoff between the two entities.
Agribank has failed to restore Witvlei Meat's occupation of the abattoir at Witvlei despite a High Court order in April 2016 to that effect. Witvlei Meat has been renting the abattoir from Agribank since August 2006.
In a statement issued yesterday Witvlei Meat said Agribank should have transferred the abattoir to it in 2010 already.
It said Agribank “deliberately” failed to do so. As a result of this deliberate conduct, Witvlei Meat maintains that it has therefore become the rightful owner of the abattoir “by means of the doctrine of fictional fulfilment in 2010” as has been confirmed by an appeal court judgement in 2013.
It said while Agribank thus far has failed to fulfil the transfer of ownership of the abattoir, the parties have confirmed by agreement that all legal matters between them be placed on hold since 24 August 2016.
Both parties' lawyers were then instructed not to incur further costs pending settlement negotiations.
Witvlei Meat stated that Agribank is well aware that its conduct has caused Witvlei Meat losses of about N$60 million.
This figure was reportedly determined by independent actuaries whose appointment was jointly agreed between the parties since the start of the settlement negotiations and whose findings were accepted by Agribank as correct.
In May the two parties reportedly agreed that Agribank's board would review a decision on a loan application of N$35 million turned down despite Witvlei Meat complying with all conditions specified by the bank's board on 13 April.
An alternative suggestion was that the abattoir be transferred to Witvlei Meat at Agribank's cost.
This cost order was awarded by the Supreme Court as well as the cost order as awarded by the High Court in full and final settlement between the two parties.
“Witvlei Meat made a genuine attempt without prejudice to its rights to find a practical solution in the interest of all concerned, failing which Agribank were to make counter proposals to be considered by the parties in an attempt to reach full and final settlement,” the company stated.
It said Agribank has since been given ample time to comply, but that it has “without proper reason” materially failed to do so.
CATHERINE SASMAN
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