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

Freddy Lekau Sehoana has roused 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 big-name joint efforts yet experiences run into some difficulty. A nearby finance manager is requesting 34% of the tennis shoe brand following a neglected credit understanding. 


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 an "agreement of venture" advance of R45 700 to pay for 200 sets of 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. 


Additionally 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. Notwithstanding, he keeps up with that he had repaid the credit and the R18 000 interest before December 31 2019 yet couldn't give Mashiya R100 for the initial 5000 deals due to Covid-19 and unforeseen costs. 


Likewise as indicated by Sehoana, he and Mashiya concurred on various agreement terms and chose him to pay Mashiya R200 000 in July 2020 and R300 000 in November 2020. 


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


Regardless of making the extraordinary installment, Mashiya is as yet requesting 34% of the organization, Sehoana says. 


Likewise READ: Cassper Nyovest dispatches his first tennis shoe with Drip Footwear [watch]

Eish! Drip footwear founder Lekau Sehoana sued for 34% of his business (msn.com)

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Alfred Mashiya Lekau Sehoana Menlyn Mall Pretoria South Africa

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