Makume and Another v Absa Bank Ltd and Others (NCT/ 474/2010/138 (1)(P)) [2010] ZANCT 39 (14 April 2010)

Makume and Another v Absa Bank Ltd and Others (NCT/ 474/2010/138 (1)(P)) [2010] ZANCT 39 (14 April 2010)

The Tribunal found that the applicants had properly applied for debt review and that the debt counsellor had determined they were experiencing financial difficulty. The proposed debt restructuring agreement was consented to by all credit providers and the applicants. The Tribunal was satisfied that the requirements of section 86(7)(b) and section 138(1) of the National Credit Act were met. Accordingly, the Tribunal confirmed the draft consent order as an order of the Tribunal, making the restructured payment arrangements binding on all parties.

Citation
[2010] ZANCT 39
Parties
Applicant: Lenong Julius Makume; Applicant: Mapolo Paulina Makume; Respondent: Absa Bank Ltd; Respondent: Addcon (Pty) Ltd; Respondent: African Bank Ltd; Respondent: Edcon (Pty) Ltd; Respondent: JDG Trading Financial Services (Pty) Ltd; Respondent: Lewis Stores (Pty) Ltd; Respondent: Nedbank Ltd
Court
National Consumer Tribunal
Jurisdiction
South Africa
Judgment Date
14 April 2010
Case Number
NCT/ 474/2010/138 (1)(P)
Procedural Posture
Consent Order Application / Debt Review Consent Order Confirmation
Outcome
Consent order granted. The draft debt restructuring agreement is confirmed as an order of the Tribunal.
Judges
Neo Sephoti
Legal Topics
National Credit Act, Debt Restructuring, Consent Order, Debt Review, Consumer Protection
Banking and Finance Civil Procedure National Credit Act Debt Restructuring Consent Order Debt Review Consumer Protection

Case Brief

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Parties

Lenong Julius Makume

Applicant

Mapolo Paulina Makume

Applicant

Absa Bank Ltd

Respondent

Addcon (Pty) Ltd

Respondent

African Bank Ltd

Respondent

Edcon (Pty) Ltd

Respondent

JDG Trading Financial Services (Pty) Ltd

Respondent

Lewis Stores (Pty) Ltd

Respondent

Nedbank Ltd

Respondent

Procedural Posture

Consent Order Application / Debt Review Consent Order Confirmation

Legal Issues

  1. 1 Whether the applicants are entitled to a debt restructuring order under the National Credit Act.
  2. 2 Whether the consent of all credit providers and the applicants to the proposed debt rearrangement is valid and enforceable.
  3. 3 Whether the Tribunal should confirm the draft consent order as an order of the Tribunal.

Ratio Decidendi

The Tribunal found that the applicants had properly applied for debt review and that the debt counsellor had determined they were experiencing financial difficulty. The proposed debt restructuring agreement was consented to by all credit providers and the applicants. The Tribunal was satisfied that the requirements of section 86(7)(b) and section 138(1) of the National Credit Act were met. Accordingly, the Tribunal confirmed the draft consent order as an order of the Tribunal, making the restructured payment arrangements binding on all parties.

Court Disposition

Consent order granted. The draft debt restructuring agreement is confirmed as an order of the Tribunal.

Orders

  • The payment structures of the agreement between the applicants and the respondents as set out in Annexure B are made an order of the National Consumer Tribunal.
  • The agreement restructures the payment instalments by extending the payment period as indicated in Annexure B.