National Credit Regulator v Nivasol CC t/a Brother Cash Loans (NCT/100942/2018/57(1)) [2018] ZANCT 142 (29 October 2018)

National Credit Regulator v Nivasol CC t/a Brother Cash Loans (NCT/100942/2018/57(1)) [2018] ZANCT 142 (29 October 2018)

The Tribunal found that the requirements of section 138 of the National Credit Act were satisfied, as the parties had reached a settlement agreement and jointly requested its confirmation. The Tribunal confirmed the settlement agreement as an order of the Tribunal, thereby resolving the dispute without the need for further evidence or hearing. No order as to costs was made.

Citation
[2018] ZANCT 142
Parties
Applicant: National Credit Regulator; Respondent: Nivasol CC t/a Brother Cash Loans
Court
National Consumer Tribunal
Jurisdiction
South Africa
Judgment Date
29 October 2018
Case Number
NCT/100942/2018/57(1)
Procedural Posture
Review Application / Settlement Agreement Confirmation
Outcome
Settlement agreement confirmed as order of the Tribunal; no order as to costs.
Judges
P A Beck, N Maseti, F Sibanda
Legal Topics
National Credit Act, Settlement Agreement, Consent Order
Banking and Finance National Credit Act Settlement Agreement Consent Order

Case Brief

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Parties

National Credit Regulator

Applicant

Nivasol CC t/a Brother Cash Loans

Respondent

Procedural Posture

Review Application / Settlement Agreement Confirmation

Legal Issues

  1. 1 Whether the settlement agreement between the parties should be confirmed as an order of the Tribunal under section 138 of the National Credit Act.
  2. 2 Whether any further relief, including costs or administrative fines, should be granted.

Ratio Decidendi

The Tribunal found that the requirements of section 138 of the National Credit Act were satisfied, as the parties had reached a settlement agreement and jointly requested its confirmation. The Tribunal confirmed the settlement agreement as an order of the Tribunal, thereby resolving the dispute without the need for further evidence or hearing. No order as to costs was made.

Court Disposition

Settlement agreement confirmed as order of the Tribunal; no order as to costs.

Orders

  • The Settlement Agreement entered into between the Applicant and the Respondent on 26 October 2018 is made an order of the National Consumer Tribunal in terms of Section 138 of the National Credit Act, Act 34 of 2005 as amended.
  • There is no order made as to costs.