How to Escape from a Property Suretyship

You are a director of a company entering into a good, sensible property deal which you have researched thoroughly. So when you need finance from the bank and the bank says “sure, your company can have a R5m loan, just sign this personal suretyship here”, you sign.
It’s only when everything falls apart down the line and the bank sues you personally for R5m, that you desperately start looking for ways to get out of your suretyship. We discuss a recent High Court case illustra… …read more