Van Der Westhuizen and Another v Absa Bank Ltd and Others (NCT/ 475/2010/138 (1)(P)) [2010] ZANCT 41 (14 April 2010)

Van Der Westhuizen and Another v Absa Bank Ltd and Others (NCT/ 475/2010/138 (1)(P)) [2010] ZANCT 41 (14 April 2010)

The Tribunal found that the applicants are parties to a debt rearrangement facilitated by a debt counsellor under section 86(7)(b) read together with section 138(1) of the National Credit Act. All parties, including the applicants and the credit providers, have consented to the proposed debt restructuring agreement. The Tribunal is satisfied that the requirements for a consent order have been met and confirms the draft consent order as an order of the Tribunal. The payment structures and extended repayment periods as set out in the agreement are made an order of the Tribunal, and the parties are warned that failure to comply constitutes an offence under section 160(1) of the Act.

Citation
[2010] ZANCT 41
Parties
Applicant: Lukas Jacob Thomas Van Der Westhuizen; Applicant: Coleen Cornelia Van Der Westhuizen; Respondent: Absa Bank Ltd; Respondent: Edcon (Pty) Ltd; Respondent: First National Bank; Respondent: Consumer Friend; Respondent: Motor Finance Corporation (Pty) Ltd; Respondent: Standard Bank of SA Ltd
Court
National Consumer Tribunal
Jurisdiction
South Africa
Judgment Date
14 April 2010
Case Number
NCT/ 475/2010/138 (1)(P)
Procedural Posture
Consent Order Application / Debt Review Consent Order Under Section 86(7) and 138 of the National Credit Act
Outcome
Draft consent order confirmed as an order of the Tribunal; debt restructuring agreement made an order.
Judges
Neo Sephoti
Legal Topics
Debt Review, Consent Order, National Credit Act, Debt Restructuring
Banking and Finance Civil Procedure Debt Review Consent Order National Credit Act Debt Restructuring

Case Brief

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Parties

Lukas Jacob Thomas Van Der Westhuizen

Applicant

Coleen Cornelia Van Der Westhuizen

Applicant

Absa Bank Ltd

Respondent

Edcon (Pty) Ltd

Respondent

First National Bank

Respondent

Consumer Friend

Respondent

Motor Finance Corporation (Pty) Ltd

Respondent

Standard Bank of SA Ltd

Respondent

Procedural Posture

Consent Order Application / Debt Review Consent Order Under Section 86(7) and 138 of the National Credit Act

Legal Issues

  1. 1 Whether the applicants qualify for a debt rearrangement order under section 86(7) and 138 of the National Credit Act.
  2. 2 Whether the parties have consented to the proposed debt restructuring 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 applicants are parties to a debt rearrangement facilitated by a debt counsellor under section 86(7)(b) read together with section 138(1) of the National Credit Act. All parties, including the applicants and the credit providers, have consented to the proposed debt restructuring agreement. The Tribunal is satisfied that the requirements for a consent order have been met and confirms the draft consent order as an order of the Tribunal. The payment structures and extended repayment periods as set out in the agreement are made an order of the Tribunal, and the parties are warned that failure to comply constitutes an offence under section 160(1) of the Act.

Court Disposition

Draft consent order confirmed as an order of the Tribunal; debt restructuring agreement made an order.

Orders

  • The draft consent order formulated as the order of the Tribunal is confirmed.
  • The payment structures and extended repayment periods set out in Annexure B are made an order of the Tribunal.