National Credit Regulator v Imbizo Cash Loans CC (NCT/91478/2017/57(1)) [2018] ZANCT 23 (19 February 2018)

National Credit Regulator v Imbizo Cash Loans CC (NCT/91478/2017/57(1)) [2018] ZANCT 23 (19 February 2018)

The Tribunal found that the parties had reached a settlement and submitted a signed agreement within the time allowed. There was no opposition to the agreement being made an order of the Tribunal. The Tribunal was satisfied that the requirements for making a settlement agreement an order were met and accordingly granted the order. No costs order was made.

Citation
[2018] ZANCT 23
Parties
Applicant: National Credit Regulator; Respondent: Imbizo Cash Loans CC
Court
National Consumer Tribunal
Jurisdiction
South Africa
Judgment Date
19 February 2018
Case Number
NCT/91478/2017/57(1)
Procedural Posture
Settlement Agreement / Order Following Settlement Agreement
Outcome
Settlement agreement made an order of the Tribunal. No order as to costs.
Judges
F Manamela, J Simpson, M Nkomo
Legal Topics
National Credit Act, Settlement Agreement, Consumer Credit Regulation
Banking and Finance National Credit Act Settlement Agreement Consumer Credit Regulation

Case Brief

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Parties

National Credit Regulator

Applicant

Imbizo Cash Loans CC

Respondent

Procedural Posture

Settlement Agreement / Order Following Settlement Agreement

Legal Issues

  1. 1 Whether the settlement agreement between the parties should be made an order of the Tribunal.
  2. 2 Whether any costs order should be made.

Ratio Decidendi

The Tribunal found that the parties had reached a settlement and submitted a signed agreement within the time allowed. There was no opposition to the agreement being made an order of the Tribunal. The Tribunal was satisfied that the requirements for making a settlement agreement an order were met and accordingly granted the order. No costs order was made.

Court Disposition

Settlement agreement made an order of the Tribunal. No order as to costs.

Orders

  • The signed settlement agreement between the parties is made an order of the Tribunal.
  • No order is made as to costs.