Tufh Limited, a financier of inner-city property developments, granted a loan facility of R5 771 166 to 68 Wolmarans Street Johannesburg (Pty) Ltd to purchase and refurbish an apartment building in Hillbrow. The loan agreement and mortgage bond required Wolmarans to pay all municipal charges (rates, water, electricity, sanitation and refuse) promptly, failing which such failure would constitute an event of default entitling Tufh to accelerate repayment and foreclose. Although Wolmarans remained up to date with its monthly loan instalments, it failed from October 2015 onwards to pay municipal charges, resulting in arrears exceeding R3 million. Wolmarans contended that it was involved in a bona fide billing dispute with the City of Johannesburg concerning water and electricity charges and therefore withheld payment of all municipal charges. Tufh demanded compliance and, when this was not forthcoming, sought accelerated repayment and foreclosure. The High Court at first instance dismissed Tufh’s application as unconscionable, but the full court upheld Tufh’s appeal. Wolmarans then sought special leave to appeal to the Supreme Court of Appeal.