Kabelo Mabalane is reportedly being dragged to the Joburg High Court for his alleged failure to pay more than R1-million of a loan he took from BlueChip Retail Solutions!egendary Kwaito star and Tkzee family member
And according to Sunday World Kabelo Mabalane took the loan for his company Move Live Become on June 24 last year.
The paper reports that BlueChip Retail Solutions loaned Kabelo Mabalane over R1-million.
It is also reported that Kabelo signed an agreement of debt with the company and promised to pay back the loan with interest.
According to court papers seen by the publication, Kabelo Mabalane only paid at least R250 000 into the bank account of the company but allegedly failed to settle the remaining amount.
The company’s lawyers, Hurwitz & Associates, wrote a letter to the Zonke hitmaker on August 1 last year, demanding that he settle the outstanding balance.
The letter, which is in possession of Sunday World, reads in part: “In the premise you have failed or alternatively neglected to adhere to the terms and conditions of the agreement, we hereby place you in mora and demand payment of the outstanding amount together with interest calculated at the prescribed rate as of the date of receipt hereof up to and including date of payment.
“Our client notes receipt of payment in the amount of about R250 000. It is noteworthy that the balance remaining amounts to R1 080 295.92.”
The company lawyers took the matter to court after Mabalane ignored the letter. The matter was supposed to have been heard on January 13 but was removed from the roll apparently after the musician entered into new payment arrangements with the company.
Darryl Hurwitz said he was not at liberty to discuss the matter with the media but said the total balance was not settled yet.
Kabelo Mabalane said he was surprised the company took him to court because he was servicing the loan.
“ The loan they gave me was R1.9 million and I have so far paid back about R1.5 million. The outstanding balance is R4000 which I will pay in due course,” said Kabelo Mabalane as quoted by the paper.