Firstrand Bank Limited v Zwane and Another (68313/2014) [2025] ZAGPPHC 358 (23 April 2025)

Firstrand Bank Limited v Zwane and Another (68313/2014) [2025] ZAGPPHC 358 (23 April 2025)

The court found that the reserve price of R300,000.00 previously set for the sale in execution of the first respondent's immovable property had prevented the sale from proceeding, as no bids were received at two auctions. The applicant demonstrated that the outstanding debt remains unpaid and that there is no purchaser interest at the current reserve price. The first respondent failed to provide any relevant facts or grounds for opposing the reconsideration of the reserve price and did not pursue rescission or appeal of the default judgment. The court, balancing the interests of both parties and the interests of justice, determined that the reserve price should be reduced to R150,000.00,...

Citation
[2025] ZAGPPHC 358
Parties
Applicant: Firstrand Bank Limited; Respondent: Thenjiwe Zwane; Respondent: Sheriff of the High Court, Soweto East
Court
North Gauteng High Court, Pretoria
Jurisdiction
South Africa
Judgment Date
23 April 2025
Case Number
68313/2014
Procedural Posture
Urgent Application / Application for Reconsideration of Reserve Price Under Uniform Rule 46 A(9)(d)
Outcome
Application granted in part; reserve price reduced to R150,000.00; first respondent's counter-application dismissed with costs.
Judges
W Domingo
Legal Topics
Uniform Rule 46a, Sale in Execution, Reserve Price Reconsideration, Mortgage Bond Enforcement
Civil Procedure Land and Property Uniform Rule 46a Sale in Execution Reserve Price Reconsideration Mortgage Bond Enforcement

Case Brief

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Parties

Firstrand Bank Limited

Applicant

Thenjiwe Zwane

Respondent

Sheriff of the High Court, Soweto East

Respondent

Procedural Posture

Urgent Application / Application for Reconsideration of Reserve Price Under Uniform Rule 46 A(9)(d)

Legal Issues

  1. 1 Whether the reserve price for the sale in execution of the first respondent's immovable property should be reconsidered and reduced.
  2. 2 Whether the first respondent's counter-application to set aside the notice of application is sustainable.
  3. 3 Who should bear the costs of the application and counter-application.

Ratio Decidendi

The court found that the reserve price of R300,000.00 previously set for the sale in execution of the first respondent's immovable property had prevented the sale from proceeding, as no bids were received at two auctions. The applicant demonstrated that the outstanding debt remains unpaid and that there is no purchaser interest at the current reserve price. The first respondent failed to provide any relevant facts or grounds for opposing the reconsideration of the reserve price and did not pursue rescission or appeal of the default judgment. The court, balancing the interests of both parties and the interests of justice, determined that the reserve price should be reduced to R150,000.00,...

Court Disposition

Application granted in part; reserve price reduced to R150,000.00; first respondent's counter-application dismissed with costs.

Orders

  • The reserve price of R300,000.00 set by the court for the sale in execution of the first respondent's immovable property is reduced to R150,000.00.
  • The first respondent is directed to pay the costs of this application on the scale as between attorney and client.