National Credit Regulator v Lewis Stores (Pty) Ltd (NCT/185195/2021/138) [2021] ZANCT 52 (1 December 2021)

National Credit Regulator v Lewis Stores (Pty) Ltd (NCT/185195/2021/138) [2021] ZANCT 52 (1 December 2021)

The Tribunal is satisfied that the applicant and respondent are parties to a valid settlement agreement. In terms of section 138(1) of the National Credit Act, the Tribunal confirms the settlement agreement as an order. The order is enforceable as if it were an order of the High Court, and non-compliance constitutes an offence under section 160(1) of the Act.

Citation
[2021] ZANCT 52
Parties
Applicant: National Credit Regulator; Respondent: Lewis Stores (Pty) Ltd
Court
National Consumer Tribunal
Jurisdiction
South Africa
Judgment Date
1 December 2021
Case Number
NCT/185195/2021/138
Procedural Posture
Consent Order / Final
Outcome
The settlement agreement between the parties is confirmed and made an order of the Tribunal.
Judges
J Simpson
Legal Topics
National Credit Act, Settlement Agreement, Enforcement of Tribunal Orders
Banking and Finance National Credit Act Settlement Agreement Enforcement of Tribunal Orders

Case Brief

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Parties

National Credit Regulator

Applicant

Lewis Stores (Pty) Ltd

Respondent

Procedural Posture

Consent Order / Final

Legal Issues

  1. 1 Whether the settlement agreement between the parties can be confirmed as an order of the Tribunal under section 138(1) of the National Credit Act.
  2. 2 What are the consequences of non-compliance with the Tribunal's order.

Ratio Decidendi

The Tribunal is satisfied that the applicant and respondent are parties to a valid settlement agreement. In terms of section 138(1) of the National Credit Act, the Tribunal confirms the settlement agreement as an order. The order is enforceable as if it were an order of the High Court, and non-compliance constitutes an offence under section 160(1) of the Act.

Court Disposition

The settlement agreement between the parties is confirmed and made an order of the Tribunal.

Orders

  • The settlement agreement attached as Annexure A is made an order of the Tribunal.
  • The parties are warned that non-compliance with the order constitutes an offence under section 160(1) of the National Credit Act.