Freddy Lekau Sehoana has propelled great many 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 superstar joint efforts however experiences apparently run into some difficulty. A neighborhood finance manager is requesting 34% of the shoe brand following a neglected credit understanding.
Trickle footwear proprietor Lekau Sehoana has some lawful difficulty
As per reports, the two met at Menlyn Mall in Pretoria and went into a "agreement of venture" credit of R45 700 to pay for 200 sets of tennis shoes that had effectively been produced and were fit to be sold.
The cash was to be repaid alongside R18 000 premium by December 2019 and Sehoana was additionally intended to pay Mashiya R100 from each pair of the initial 5000 shoes that were sold.
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 deferred. As per Mashiya, he was not paid the R100 from the 5000 tennis 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 taught 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 overlooked."
Sehoana shares his reaction
Sehoana affirmed that he was presented with the papers and that he acquired the cash from Mashiya. Notwithstanding, he keeps up with that he had repaid the advance 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 sudden costs.
Likewise as indicated by 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 created R500 000 yet he made the entire installment after he got a letter of interest from Mashiya's attorneys.
Notwithstanding making the extraordinary installment, Mashiya is as yet requesting 34% of the organization, Sehoana says.
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