Yama Securities payment for damages stayed by Court

Damage payments of K17 million that was awarded to Yama Securities Limited on March 2 has been stayed by the Supreme Court.

A consented stay was ordered by the Supreme Court today after lawyers representing Yama Securities and NCDC returned to court this afternoon.

The payment was agreed to be stayed until June 30 pending the appeal against the decision of the National Court. NCDC is appealing this decision on 10 grounds. It is seeking orders from the Supreme Court to have the National Court’s decision of March 2 be quashed.

On March 2 this year, the National Court awarded damages plus interest to the sum of K17, 817,510.00 to Yama Securities after the National Capital District breached a contract it had with the security firm.

The matter will return before the Supreme Court on May 2 for further directions.

Sally Pokiton