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South Africa decisions
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Sithole v Firstrand Bank Limited (82216/17) [2022] ZAGPPHC 656 (1 September 2022)
The High Court dismissed a late application for leave to appeal against a Rule 46A reserve-price order, finding no condonation, no merit, and an abuse of process.
ABSA Bank LTD v Minnaar (65149/16; 52267/2017) [2022] ZAGPPHC 443 (7 June 2022)
The High Court granted ABSA Bank’s Rule 46A(8)(e) application and set a reserve price for the respondent’s property before sale in execution.
Kgasoane and Another v Nedbank and Another (13040/2019) [2021] ZAGPJHC 32 (23 March 2021)
The court held that, although Rule 42 ordinarily requires a manifest error or omission on the record to justify variation, the constitutional imperative to protect the right to housing and the judicial oversight requirements of Rule 46A necessitate a broader interpretation. The facts disclosed in the main application, particularly Nedbank's acknowledgment that the property was the applicants' primary residence and its acceptance of a reserve price, justified the inclusion of a reserve price in the default order. The absence of exceptional circumstances and the uncontested submissions regardin…
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Nedbank Limited v Mzizi; Nedbank Limited v Deyzel and Another; Nedbank Limited v Mbethe (28015/2019; 4257/2020; 35970/2019) [2021] ZAGPJHC 30; 2021 (4) SA 297 (GJ) (5 February 2021)
The court held that an internal bank valuation, without independent verification or a sworn affidavit from a qualified valuer, is insufficient to establish a reserve price under Rule 46A. The evidence presented in all three matters was deficient because the valuations were not sworn by qualified valuers and lacked independence. The court emphasized the need for rigorous inquiry into market value, given the constitutional imperatives and the potential prejudice to debtors if properties are sold below true market value. The applications were postponed sine die to allow supplementation with prop…
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