Firstrand Bank v Maseng and Others (23082/22) [2022] ZAGPPHC 908 (18 November 2022)

Firstrand Bank v Maseng and Others (23082/22) [2022] ZAGPPHC 908 (18 November 2022)

The court found that the applicant complied with section 129(1) of the National Credit Act by providing written confirmation of delivery of the notice to the relevant post office. The respondents failed to rebut the presumption of delivery with admissible evidence, as their supporting documents were hearsay and unsupported by affidavits. The court held that any non-compliance with section 129, if cured before the hearing, does not require adjournment for its own sake. The relief sought by the applicant was granted, including judgment for the outstanding amount, interest, and an order declaring the property specifically executable with a reserve price set after considering market and...

Citation
[2022] ZAGPPHC 908
Parties
Applicant: Firstrand Bank; Respondent: Thulanganyo Maseng; Respondent: Dimakatso Lucricia Maseng; Respondent: City of Ekurhuleni Municipality; Respondent: Midstream Hill Home Owners’ Association
Court
North Gauteng High Court, Pretoria
Jurisdiction
South Africa
Judgment Date
18 November 2022
Case Number
23082/22
Procedural Posture
Civil Application / Judgment
Outcome
Application granted. Judgment in favour of the applicant against the first and second respondents for payment of the outstanding amount, interest, and costs. The property is declared specifically executable with a reserve price set.
Judges
Reinard Michau
Legal Topics
National Credit Act, Section 129 Notice, Mortgage Bond Enforcement, Specific Executability, Reserve Price Determination
Civil Procedure Banking and Finance National Credit Act Section 129 Notice Mortgage Bond Enforcement Specific Executability Reserve Price Determination

Case Brief

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Parties

Firstrand Bank

Applicant

Thulanganyo Maseng

Respondent

Dimakatso Lucricia Maseng

Respondent

City of Ekurhuleni Municipality

Respondent

Midstream Hill Home Owners’ Association

Respondent

Procedural Posture

Civil Application / Judgment

Legal Issues

  1. 1 Whether the section 129(1) notice under the National Credit Act was properly delivered to the respondents.
  2. 2 Whether the requirements of section 130 of the National Credit Act were satisfied for enforcement of the credit agreement.
  3. 3 Whether the property should be declared specifically executable and a reserve price set.

Ratio Decidendi

The court found that the applicant complied with section 129(1) of the National Credit Act by providing written confirmation of delivery of the notice to the relevant post office. The respondents failed to rebut the presumption of delivery with admissible evidence, as their supporting documents were hearsay and unsupported by affidavits. The court held that any non-compliance with section 129, if cured before the hearing, does not require adjournment for its own sake. The relief sought by the applicant was granted, including judgment for the outstanding amount, interest, and an order declaring the property specifically executable with a reserve price set after considering market and...

Court Disposition

Application granted. Judgment in favour of the applicant against the first and second respondents for payment of the outstanding amount, interest, and costs. The property is declared specifically executable with a reserve price set.

Orders

  • Payment of R684,143.18 by the first and second respondents to the applicant.
  • Interest on R684,143.18 at 7.75% per annum, calculated daily and compounded monthly in arrears from 4 March 2022 to date of payment.