Ndobo v Absa Bank Ltd and Others (NCT/ 330/2009/138 (1)(P)) [2010] ZANCT 24 (2 February 2010)

Ndobo v Absa Bank Ltd and Others (NCT/ 330/2009/138 (1)(P)) [2010] ZANCT 24 (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 agreement, which restructures the payment instalments and extends the payment periods. The Tribunal is satisfied that the requirements of section 86(7) and section 138(1) 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 section 160(1) of the Act.

Citation
[2010] ZANCT 24
Parties
Applicant: Emmah Jwalane Ndobo; Respondent: Absa Bank Limited; Respondent: African Bank Limited; Respondent: Standard Bank Limited Group
Court
National Consumer Tribunal
Jurisdiction
South Africa
Judgment Date
2 February 2010
Case Number
NCT/ 330/2009/138 (1)(P)
Procedural Posture
Consent Order Application / Final Determination
Outcome
Consent order granted; draft consent order confirmed as order of 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

Emmah Jwalane Ndobo

Applicant

Absa Bank Limited

Respondent

African Bank Limited

Respondent

Standard Bank Limited Group

Respondent

Procedural Posture

Consent Order Application / Final Determination

Legal Issues

  1. 1 Whether the parties have validly consented to a debt rearrangement 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 the restructured payment instalments are compliant with 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 agreement, which restructures the payment instalments and extends the payment periods. The Tribunal is satisfied that the requirements of section 86(7) and section 138(1) 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 section 160(1) of the Act.

Court Disposition

Consent order granted; draft consent order confirmed as order of Tribunal.

Orders

  • The payment structures of the agreement between the applicant and respondents as set out in Annexure B are made an order of the National Consumer Tribunal.
  • The agreement restructures the payment instalments by extending the payment period as indicated in Annexure C.