Ngobese v African Bank Ltd and Another (NCT/ 389/2009/138 (1)(P)) [2010] ZANCT 32 (2 March 2010)

Ngobese v African Bank Ltd and Another (NCT/ 389/2009/138 (1)(P)) [2010] ZANCT 32 (2 March 2010)

The Tribunal found that the applicant and respondents are parties to a debt re-arrangement agreement facilitated by a debt counsellor under 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 the Act have been met and confirms the draft consent order as an order of the Tribunal.

Citation
[2010] ZANCT 32
Parties
Applicant: Nkosingiphile Zakhile Ngobese; Respondent: African Bank Limited; Respondent: Nedbank Limited
Court
National Consumer Tribunal
Jurisdiction
South Africa
Judgment Date
2 March 2010
Case Number
NCT/ 389/2009/138 (1)(P)
Procedural Posture
Consent Order Application / Final Determination
Outcome
Consent order granted; the debt re-arrangement agreement is made an order of the Tribunal.
Judges
Laura Best
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

Nkosingiphile Zakhile Ngobese

Applicant

African Bank Limited

Respondent

Nedbank Limited

Respondent

Procedural Posture

Consent Order Application / Final Determination

Legal Issues

  1. 1 Whether the Tribunal should confirm the debt re-arrangement agreement as a consent order under the National Credit Act.
  2. 2 Whether the parties have validly consented to the proposed debt restructuring.

Ratio Decidendi

The Tribunal found that the applicant and respondents are parties to a debt re-arrangement agreement facilitated by a debt counsellor under 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 the Act have been met and confirms the draft consent order as an order of the Tribunal.

Court Disposition

Consent order granted; the debt re-arrangement agreement is made an order of the 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.