Tsunke v ABSA Bank Ltd and Others (NCT/ 274/2009/138 (1)(P)) [2010] ZANCT 9 (21 January 2010)

Tsunke v ABSA Bank Ltd and Others (NCT/ 274/2009/138 (1)(P)) [2010] ZANCT 9 (21 January 2010)

The Tribunal found that the applicant and all 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 proposed restructuring of payment instalments, and the agreement was properly documented and submitted. The Tribunal is satisfied that the requirements of section 86(7)(b) and section 138(1) of the Act have been met. Accordingly, the Tribunal confirms the draft consent order as an order of the Tribunal, warning the parties that non-compliance constitutes an offence under the Act.

Citation
[2010] ZANCT 9
Parties
Applicant: Matloane Maurice Meshack Tsunke; Respondent: ABSA Bank Limited; Respondent: IEMAS; Respondent: Truworths Limited; Respondent: Woolworths
Court
National Consumer Tribunal
Jurisdiction
South Africa
Judgment Date
21 January 2010
Case Number
NCT/ 274/2009/138 (1)(P)
Procedural Posture
Consent Order Application / Final Order
Outcome
Consent order granted; debt restructuring agreement confirmed as an order of the Tribunal.
Judges
XOLELA MAY
Legal Topics
National Credit Act, Debt Restructuring, Consent Order, Consumer Protection
Banking and Finance Civil Procedure National Credit Act Debt Restructuring Consent Order Consumer Protection

Case Brief

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Parties

Matloane Maurice Meshack Tsunke

Applicant

ABSA Bank Limited

Respondent

IEMAS

Respondent

Truworths Limited

Respondent

Woolworths

Respondent

Procedural Posture

Consent Order Application / Final Order

Legal Issues

  1. 1 Whether the Tribunal should confirm the debt rearrangement 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 all 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 proposed restructuring of payment instalments, and the agreement was properly documented and submitted. The Tribunal is satisfied that the requirements of section 86(7)(b) and section 138(1) of the Act have been met. Accordingly, the Tribunal confirms the draft consent order as an order of the Tribunal, warning the parties that non-compliance constitutes an offence under 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.