Man loses R7m he lent to friend

2012-12-12 10:34
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Johannesburg - A man who lent his friend millions for a property development has heard that he will never see that money again.

Fillippus Opperman instituted legal proceedings after he lent Jacobus Boonzaaier the money for a development in Cape Town three years ago and Boonzaaier failed to repay it. With interest, the amount has grown to R7m, The Times reported.

In an initial court ruling, Opperman was told that his agreement with his friend was unlawful in terms of the National Credit Act as he was not registered as a credit provider.

As a result, Opperman's claim would, in terms of section 89(5)(c) of the act, be forfeited to the state.

Opperman then took his fight to the Constitutional Court, where it was ruled that this section of the act was unconstitutional.

His lawyer, Gerhard Gous, said Opperman’s case had done the public a huge favour as it would help others who had not been registered as credit providers but were in the same position as Opperman.    

But Boonzaier has meanwhile been sequestrated and Opperman is unlikely to ever see his money again.

Read more on:    cape town

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