Aeronexus (Pty) Limited v FirstRand Bank Limited t/a WesBank

Aeronexus (Pty) Ltd, an aircraft maintenance company, rendered services to Million Air Charter Ltd under a written agreement. Million Air failed to pay amounts owing, and Aeronexus exercised liens over aircraft owned by FirstRand Bank (WesBank), retaining the logbooks. To secure release of the aircraft, the bank issued an irrevocable written guarantee in March 2004 undertaking to pay Aeronexus R1 959 240.30 upon successful conclusion of an action in respect of the liens. Aeronexus issued a simple summons against the bank in April 2004 claiming payment for services rendered and goods sold and delivered. Nearly three years later it filed a declaration relying expressly on the guarantee. The bank raised a special plea of prescription, contending that the amended claim introduced a new debt based on the guarantee which had prescribed, and that the original summons did not interrupt prescription.

The appeal was upheld with costs. The High Court’s order was set aside and replaced with an order dismissing the bank’s special plea of prescription, granting judgment for Aeronexus in the amount of R1 959 240.30 with interest at 15.5% per annum from 20 August 2009 to date of payment, and costs of the action.

The case is a leading authority on the meaning of ‘debt’ under the Prescription Act and clarifies when an amended pleading will interrupt prescription. It confirms that prescription focuses on inaction rather than pleading defects and that a defective or excipiable summons may still interrupt prescription if the debt is recognisable in substance.