Firstrand Bank Ltd v Mdila and Another (149/2012)
Firstrand Bank Ltd v Mdila and Another (149/2012) [2012] ZAECGHC 23 (3 May 2012)
The court found that the respondents had failed to make the payments required under both the original loan agreement and the debt review order. Their explanations and evidence did not amount to a bona fide defence to the applicant's claim. The respondents' circumstances, while unfortunate, did not justify withholding summary judgment or refusing to declare the property executable, especially as they failed to provide sufficient detail regarding their financial position or prospects. The court held that the applicant was entitled to enforce its rights, including execution against the property,…
Source excerpt
- Mortgage Bond Enforcement
- Debt Review National Credit Act
- Summary Judgment
- Execution Against Primary Residence