South Africa Case Law

Firstrand Bank Limited v Kahn (2019/20373)

Firstrand Bank Limited v Kahn (2019/20373) [2024] ZAGPJHC 918 (17 September 2024)

Court

South Gauteng High Court, Johannesburg

Case number

2019/20373

Judge

Raubenheimer AJ

The court found that the reserve price had not been met after three sales in execution, and the conditions of sale allowed for confirmation to the highest bidder. The respondents failed to provide sworn valuations or meaningful evidence to challenge the sale price, and their attempts to sell privately were unsuccessful. The judgment debt and municipal arrears continued to increase, placing the interests of the judgment creditor at risk. The court held that the process was just and equitable, the statutory requirements under Rule 46A were satisfied, and the sale should be confirmed to the four…

Source excerpt

• Sale In Execution
• Rule 46a
• Reserve Price
• Confirmation Of Sale
• Judgment Debt
• Forced Sale Value

Standard Bank of South Africa Limited v Le John and Another (1540/2020)

Standard Bank of South Africa Limited v Le John and Another (1540/2020) [2023] ZAECQBHC 10 (28 February 2023)

Court

Eastern Cape High Court, Gqeberha

Case number

1540/2020

Judge

Bands

The court found that the mortgaged property was not the respondents' primary residence but rather an investment property, currently tenanted and not occupied by the respondents. The sale in execution was properly conducted, and the highest bid received was significantly below the reserve price, indicating that the forced sale value was overestimated. The court considered the factors under Uniform Rule 46A, including market value, forced sale value, amounts owing, and the nature of occupation. The sheriff's report confirmed the competitive bidding process and the rarity of achieving higher pri…

Source excerpt

• Uniform Rule 46a
• Sale In Execution
• Reserve Price
• Judicial Oversight
• Forced Sale Value

Standard Bank of South Africa Ltd v Tchibamba and Another (5642/2018)

Standard Bank of South Africa Ltd v Tchibamba and Another (5642/2018) [2022] ZAWCHC 169; 2022 (6) SA 571 (WCC) (2 September 2022)

Court

Western Cape High Court, Cape Town

Case number

5642/2018

Judge

A.G. Binns-Ward

The court held that Rule 46A(9) does not require a fresh application for reconsideration of the reserve price; rather, the process is an extension of the original Rule 46A application. The reconsideration is inquisitorial, not adversarial, and the court must be able to call for updated information from the Sheriff and interested parties. The registrar should place the Sheriff’s report before a judge, who must afford the parties a reasonable opportunity to supplement the record and make submissions. The court found that the judgment debtors had entered into a private sale agreement for the pro…

Source excerpt

• Rule 46a Sale In Execution
• Reserve Price Reconsideration
• Primary Residence Execution
• Judicial Oversight Of Execution
• Forced Sale Value
• Court Practice Directives

Changing Tides 17 (Pty) N.O v Johannes and Another;In Re: Changing Tides 17 (Pty) Ltd N.O v Johannes and Another (4141 S/2013)

Changing Tides 17 (Pty) N.O v Johannes and Another;In Re: Changing Tides 17 (Pty) Ltd N.O v Johannes and Another (4141 S/2013) [2014] ZAGPPHC 115 (13 March 2014)

Court

North Gauteng High Court, Pretoria

Case number

4141 S/2013

Judge

Murphy

The High Court dismissed a voluntary surrender application after finding the applicants had not shown a sufficient advantage to creditors.

• Voluntary Surrender
• Advantage To Creditors
• Valuation Of Assets
• Insolvency Act
• Forced Sale Value
• Voluntary-surrender

Groffler CC t/a Groffler Capital v Steenkamp and Others (27656/2010)

Groffler CC t/a Groffler Capital v Steenkamp and Others (27656/2010) [2010] ZAWCHC 362 (16 February 2010)

Court

Western Cape High Court, Cape Town

Case number

27656/2010

Judge

Baartman

The court granted ABSA leave to intervene and ordered provisional sequestration after finding reason to believe creditors would benefit from sequestration.

• Provisional Sequestration
• Secured Creditor Intervention
• Valuation Of Immovable Property
• Advantage To Creditors
• Authority To Represent Company
• Forced Sale Value