Changing Tides 17 (Pty) Ltd NO v Frasenburg (19353/2019)
Changing Tides 17 (Pty) Ltd NO v Frasenburg (19353/2019) [2020] ZAWCHC 59; [2020] 4 All SA 87 (WCC) (2 July 2020)
The court found that the respondent had no defence on the merits and that the arrears were substantial. However, the respondent possessed an Old Mutual investment maturing in May 2021, which would more than cover the debt. The court held that it would not be just to order execution against the respondent's primary residence when another substantial asset exists to satisfy the debt. The court granted judgment for the money debt, postponed the application for special executability, and permitted the applicant to attach the Old Mutual investment via garnishee order, with restrictions on sale bef…
Source excerpt
- Rule 46a Execution
- Mortgage Foreclosure
- Judgment Debt
- Attachment Of Investment
- Residential Property Executability