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South Africa decisions
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S.M.R v Nedbank Limited and Another (25017/2019) [2023] ZAGPJHC 1159 (13 October 2023)
The High Court dismissed rescission and reinstatement relief, finding the applicant failed to prove payment of all overdue amounts and had not joined his former spouse.
Standard Bank of South Africa v Mpofu and Others (83867/2015) [2022] ZAGPPHC 133 (15 March 2022)
The court found that the Mpofus did not satisfy the requirements of section 129(3)(a) of the National Credit Act, as they failed to pay all overdue amounts, default charges, and enforcement costs necessary for reinstatement of their credit agreement with the Bank. Furthermore, section 129(4) precluded reinstatement after the sale in execution of the property. The Second Sale Agreement between the Mpofus and Extreme Way Togo was tainted by the Mpofus' failure to disclose material facts, which induced Extreme Way Togo to pay R800,000 into the Mpofus' loan account. The court held that Extreme Wa…
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Standard Bank of South Africa Limited v Mpofu and Others (83867/2015) [2022] ZAGPPHC 257 (15 March 2022)
The court found that the Mpofus had not satisfied the requirements for reinstatement of their credit agreement under section 129(3) of the National Credit Act, as they failed to pay all overdue amounts, default charges, and enforcement costs. Furthermore, section 129(4) precluded reinstatement after the sale in execution. The Mpofus' failure to disclose material facts to Extreme Way Togo at the time of the Second Sale Agreement rendered the transaction invalid and entitled Extreme Way Togo to a refund of the R800,000 paid. The Bank acted correctly in bringing the interpleader application to r…
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Jiyana and Another v Absa Bank Limited and Others (A18/2018) [2018] ZAWCHC 102 (21 August 2018)
The court held that non-compliance with section 129(1) of the National Credit Act, while a substantive legal prerequisite for enforcement of a credit agreement, does not render a default judgment void ab initio. Such non-compliance constitutes an irregularity that may be addressed through rescission proceedings, not by constitutional review or collateral attack. The issues raised by the appellants regarding statutory compliance and reinstatement of the credit agreement were either raised or should have been raised in prior rescission proceedings and appeals. The doctrine of res judicata, incl…
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Makubalo and Another v Nedcor Bank Ltd and Others (M153/2016) [2017] ZANWHC 45 (29 June 2017)
The court found that the credit agreement between the first applicant and the first respondent was never cancelled and was lawfully reinstated on 5 December 2014 when the applicants paid all overdue amounts, including default charges and reasonable enforcement costs, in excess of the outstanding balance. The sale in execution was not finalised at the time of payment, as the proceeds had not yet been realised or paid to the judgment creditor. The subsequent transfers and registrations of the property were invalid, as the third respondent was not the registered owner at the time of purported sa…
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