George Hadjidakis, the owner of the 7-Eleven franchise, is squaring up for further legal battles with his creditors. Last Friday the sheriff of the high court attached two of his trucks because of an outstanding bill for legal fees of R110 000 from a case that he lost.
Business Report
October 21, 2003
7-Eleven franchiser squares up for more battles in court October 21, 2003
Ronnie Morris
Cape Town - George Hadjidakis, the owner of the 7-Eleven franchise, is squaring up for further legal battles with his creditors.
Last Friday the sheriff of the high court attached two of his trucks because of an outstanding bill for legal fees of R110 000 from a case that he lost.
In an affidavit, Jacques Theron, an attorney, said in May this year that Judge Nathan Erasmus had ruled in favour of George Meyering, Michael Dumont and Cancun Trading, which operated a franchise near Milnerton.
The store was gutted in a fire and 7-Eleven Corporation asked the court to order that it was entitled to the proceeds of an insurance policy paid out by Mutual & Federal.
The court dismissed the application and ordered 7-Eleven to pay the costs, later calculated at R110 000.
To date Hadjidakis has not paid the money and Theron brought the application for a warrant to attach the two trucks.
Japie Louw, Hadjidakis's attorney in the insurance policy matter, said there was no money owing to Meyering and Dumont. Hadjidakis was owed R424 000 for stock delivered, outstanding franchise fees and rental for the gutted store.
The R110 000 had been set off against the outstanding debt to Hadjidakis.
If the attachment order was not suspended, Hadjidakis would ask the high court tomorrow to set it aside and award costs in his favour, Louw said.
Meanwhile, Hadjidakis has still not paid creditors about R90 million as he had undertaken to do in June when provisional liquidation orders against 7-Eleven Corporation and 7-Eleven Africa were discharged in the Cape high court.
The court was told that Metro Cash and Carry, which had bought the 7-Eleven franchise, had undertaken to advance the money to Hadjidakis as a loan and that creditors would be paid.
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Risks: South Africa, 20031021 7-Eleven franchiser
