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Drip footwear founder Lekau Sehoana sued for 34% of his business

Freddy Lekau Sehoana has roused large number of South Africans with his account of poverty to newfound wealth. He has opened various stores around South Africa and is in any event, doing some high-profile big name joint efforts however experiences apparently run into some difficulty. A nearby financial specialist is requesting 34% of the tennis shoe brand following a neglected advance arrangement.

Dribble footwear proprietor Lekau Sehoana has some lawful difficulty

Freddy Lekau Sehoana has been sued by a Pretoria financial backer, Alfred Mashiya, who is requesting 34% of the organization after he put R45 700 in the business in 2019.

As per reports, the two met at Menlyn Mall in Pretoria and went into a "agreement of speculation" credit of R45 700 to pay for 200 sets of tennis shoes that had effectively been fabricated and were fit to be sold.

The cash was to be taken care of alongside R18 000 premium by December 2019 and Sehoana was additionally intended to pay Mashiya R100 from each pair of the initial 5000 tennis shoes that were sold.

Likewise READ: Please clarify: Cassper Nyovest's R100m manage Drip Footwear

Sunday World reports that Sehoana consented to give Mashiya 5% of the organization offers should the installment be 24 hours late and afterward an extra 1% for consistently the installment was postponed. As indicated by Mashiya, he was not paid the R100 from the 5000 shoes and is presently qualified for shares in the business.

"Considering the break and according to the agreement, I'm qualified for 34% of Drip Footwear organization determined from the first of August 2020, being the date of the break until the day of the fourth day of September 2020, being the date which I trained my lawyer to execute a letter of interest to have the subsequent respondent issue the requested portions of the organization into my name, the interest which the second reacted disregarded."

Sehoana shares his reaction

Sehoana affirmed that he was presented with the papers and that he acquired the cash from Mashiya. Nonetheless, he keeps up with that he had taken care of the credit and the R18 000 interest before December 31 2019 however couldn't give Mashiya R100 for the initial 5000 deals in light of Covid-19 and startling costs.

Likewise as per Sehoana, he and Mashiya concurred on various agreement terms and chose him paying Mashiya R200 000 in July 2020 and R300 000 in November 2020.

Sehoana said he then, at that point, paid just R100 000 on the grounds that the shoe deals had not produced R500 000 yet he made the entire installment after he got a letter of interest from Mashiya's legal advisors.

In spite of making the remarkable installment, Mashiya is as yet requesting 34% of the organization, Sehoana says.

Content created and supplied by: [email protected] (via Opera News )

Freddy Lekau Sehoana Lekau Sehoana Menlyn Mall Pretoria South Africa


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