Mntambo v African Bank Ltd and Another (NCT/ 305/2009/138 (1)(P)) [2010] ZANCT 23 (2 February 2010)

Mntambo v African Bank Ltd and Another (NCT/ 305/2009/138 (1)(P)) [2010] ZANCT 23 (2 February 2010)

The Tribunal found that the applicant and respondents are parties to a debt rearrangement agreement facilitated by a debt counsellor in terms of the National Credit Act. All parties have consented to the restructuring of payment instalments, and the agreement has been properly documented and submitted. The Tribunal is satisfied that the requirements of the Act have been met and confirms the draft consent order as an order of the Tribunal. The parties are warned that non-compliance with the order constitutes an offence under the Act.

Citation
[2010] ZANCT 23
Parties
Applicant: Boraki Joseph Mntambo; Respondent: African Bank Limited; Respondent: Nedbank Limited
Court
National Consumer Tribunal
Jurisdiction
South Africa
Judgment Date
2 February 2010
Case Number
NCT/ 305/2009/138 (1)(P)
Procedural Posture
Consent Order Application / Final Determination
Outcome
Draft consent order confirmed as an order of the Tribunal.
Judges
F. Manamela
Legal Topics
Debt Restructuring, National Credit Act, Consent Order, Debt Review
Banking and Finance Civil Procedure Debt Restructuring National Credit Act Consent Order Debt Review

Case Brief

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Parties

Boraki Joseph Mntambo

Applicant

African Bank Limited

Respondent

Nedbank Limited

Respondent

Procedural Posture

Consent Order Application / Final Determination

Legal Issues

  1. 1 Whether the parties have validly consented to a debt rearrangement agreement under the National Credit Act.
  2. 2 Whether the Tribunal should confirm the draft consent order as an order of the Tribunal.
  3. 3 Whether failure to comply with the Tribunal's order constitutes an offence under the Act.

Ratio Decidendi

The Tribunal found that the applicant and respondents are parties to a debt rearrangement agreement facilitated by a debt counsellor in terms of the National Credit Act. All parties have consented to the restructuring of payment instalments, and the agreement has been properly documented and submitted. The Tribunal is satisfied that the requirements of the Act have been met and confirms the draft consent order as an order of the Tribunal. The parties are warned that non-compliance with the order constitutes an offence under the Act.

Court Disposition

Draft consent order confirmed as an order of the Tribunal.

Orders

  • The draft consent order attached as Annexure 'A' is confirmed as an order of the Tribunal.
  • The parties are warned that failure to comply with the order constitutes an offence under section 160(1) of the National Credit Act.