MEDIA STATEMENT – CASE HEARING IN SUPREME COURT OF APPEAL
 
Piet Christiaan Engelbrecht NO and Another v Senwes Limited

Supreme Court of Appeal -631/2005 Hearing date: 21 November 2006
  Judgment date: 30 November 2006

cession of life policy in securitatem debiti – claim for recession – settlement agreement made order of court - interpretation Citation: Engelbrecht and Van der Walt NNO v Senwes 2006 SCA 166 (RSA)


Media Summary of Judgment

The SCA today dismissed an appeal by the executors in the estate of the late Mr P V de Wet in which they claimed a recession of a life policy ceded to Senwes as security for a debt owed by the deceased. In coming to this conclusion the SCA interpreted a settlement agreement entered into by the deceased and Senwes as meaning that Senwes became entitled to the proceeds of the policy irrespective of whether the policy was ceded as security or outright.