became common practice for courts to impose an "upset price"
founder if the court set a high upset price. (136) Particularly after
According to Kalili, over 600 bidders were registered for the 120 erven (potentially 5 prospective bidders per erf) up for sale and from the onset the upset price
was quickly forgotten as the first lot went for N$700 per m2 or N$560,000 in total.
In part to protect the interests of investors dissatisfied with reorganization plans (called dissenters), in 1885 federal courts began to establish "upset prices
" for each of the claims of the defaulted railroad.(27) The upset price
was the amount of cash a dissenting security holder had to be paid by the assenting security holders in the event of a successful reorganization.
"With upset prices
accelerating by 196% in 15 months, there is a serious need to rethink the current land delivery model because N$400 per sqm is not affordable for 60% of Windhoek households who will never afford land in Windhoek, let alone housing."