Segele v African Bank Ltd and Others (NCT/ 278/2009/138 (1)(P)) [2010] ZANCT 5 (14 January 2010)

Segele v African Bank Ltd and Others (NCT/ 278/2009/138 (1)(P)) [2010] ZANCT 5 (14 January 2010)

The Tribunal found that the applicant had properly applied for debt review and that the debt counsellor had determined the applicant was experiencing difficulty in meeting her credit obligations. The debt counsellor facilitated a restructuring agreement, to which all credit providers and the applicant consented. The Tribunal was satisfied that the requirements of sections 86(7)(b) and 138(1) of the National Credit Act were met. Accordingly, the Tribunal confirmed the draft consent order as an order of the Tribunal, warning the parties that non-compliance would constitute an offence under section 160(1) of the Act.

Citation
[2010] ZANCT 5
Parties
Applicant: Keneuoe Regina Segele; Respondent: African Bank Limited; Respondent: First National Bank t/a First Rand Bank; Respondent: Health-Worx Centurion; Respondent: Markhams a division of Foschini Retail Group (Pty) Ltd; Respondent: Revenue Consulting (Pty) Ltd t/a Revco; Respondent: Truworths Limited; Respondent: Woolworths; Respondent: Wesbank t/a a division of First Rand Bank
Court
National Consumer Tribunal
Jurisdiction
South Africa
Judgment Date
14 January 2010
Case Number
NCT/ 278/2009/138 (1)(P)
Procedural Posture
Consent Order Application / Final Order
Outcome
Consent order granted; debt restructuring agreement confirmed as an order of the Tribunal.
Judges
Tanya Woker
Legal Topics
Debt Review, Debt Restructuring, National Credit Act, Consent Order
Banking and Finance Civil Procedure Debt Review Debt Restructuring National Credit Act Consent Order

Case Brief

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Parties

Keneuoe Regina Segele

Applicant

African Bank Limited

Respondent

First National Bank t/a First Rand Bank

Respondent

Health-Worx Centurion

Respondent

Markhams a division of Foschini Retail Group (Pty) Ltd

Respondent

Revenue Consulting (Pty) Ltd t/a Revco

Respondent

Truworths Limited

Respondent

Woolworths

Respondent

Wesbank t/a a division of First Rand Bank

Respondent

Procedural Posture

Consent Order Application / Final Order

Legal Issues

  1. 1 Whether the applicant qualifies for debt review and restructuring under the National Credit Act.
  2. 2 Whether the parties have validly consented to a debt rearrangement agreement.
  3. 3 Whether the Tribunal should confirm the draft consent order as an order of the Tribunal.

Ratio Decidendi

The Tribunal found that the applicant had properly applied for debt review and that the debt counsellor had determined the applicant was experiencing difficulty in meeting her credit obligations. The debt counsellor facilitated a restructuring agreement, to which all credit providers and the applicant consented. The Tribunal was satisfied that the requirements of sections 86(7)(b) and 138(1) of the National Credit Act were met. Accordingly, the Tribunal confirmed the draft consent order as an order of the Tribunal, warning the parties that non-compliance would constitute an offence under section 160(1) of the Act.

Court Disposition

Consent order granted; debt restructuring agreement confirmed as an order of the Tribunal.

Orders

  • The draft consent order attached as Annexure 'A' is confirmed as an order of the Tribunal.
  • The payment structures set out in Annexure 'B' are made an order of the Tribunal.