National Credit Regulator v Loans Acceptable Funding (Pty) Ltd (NCT/122594/2018/140(1)) [2019] ZANCT 39 (7 April 2019)

National Credit Regulator v Loans Acceptable Funding (Pty) Ltd (NCT/122594/2018/140(1)) [2019] ZANCT 39 (7 April 2019)

The Tribunal found that both parties agreed to a postponement to facilitate settlement negotiations and/or allow the Respondent to file an answering affidavit. The Tribunal was satisfied that the Respondent had been properly served and was aware of the proceedings. The order provides clear deadlines for the submission of a settlement agreement or answering affidavit, failing which the matter will proceed on a default basis without further postponement. The Tribunal exercised its discretion to postpone the matter sine die, balancing procedural fairness and the interests of justice.

Citation
[2019] ZANCT 39
Parties
Applicant: National Credit Regulator; Respondent: Loans Acceptable Funding (Pty) Ltd
Court
National Consumer Tribunal
Jurisdiction
South Africa
Judgment Date
7 April 2019
Case Number
NCT/122594/2018/140(1)
Procedural Posture
Urgent Application / Postponement Order After Initial Default Hearing
Outcome
The matter is postponed sine die to allow for settlement negotiations or the filing of an answering affidavit. Clear deadlines are set for the parties, and the Tribunal will proceed on a default basis if these are not met.
Judges
M Nkomo, N Maseti, B Dumisa
Legal Topics
National Credit Act, Default Proceedings, Settlement Negotiations, Postponement of Hearing
Banking and Finance Civil Procedure National Credit Act Default Proceedings Settlement Negotiations Postponement of Hearing

Case Brief

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Parties

National Credit Regulator

Applicant

Loans Acceptable Funding (Pty) Ltd

Respondent

Procedural Posture

Urgent Application / Postponement Order After Initial Default Hearing

Legal Issues

  1. 1 Whether the matter should be postponed to allow for settlement negotiations or the filing of an answering affidavit.
  2. 2 Whether the Respondent was properly served and aware of the proceedings.
  3. 3 Whether the Tribunal should proceed on a default basis if no settlement or answering affidavit is filed.

Ratio Decidendi

The Tribunal found that both parties agreed to a postponement to facilitate settlement negotiations and/or allow the Respondent to file an answering affidavit. The Tribunal was satisfied that the Respondent had been properly served and was aware of the proceedings. The order provides clear deadlines for the submission of a settlement agreement or answering affidavit, failing which the matter will proceed on a default basis without further postponement. The Tribunal exercised its discretion to postpone the matter sine die, balancing procedural fairness and the interests of justice.

Court Disposition

The matter is postponed sine die to allow for settlement negotiations or the filing of an answering affidavit. Clear deadlines are set for the parties, and the Tribunal will proceed on a default basis if these are not met.

Orders

  • The matter is postponed sine die.
  • The Applicant must submit a written settlement agreement, signed by both parties, to the Tribunal Registrar by 3 May 2019.