Firstrand Bank Limited t/a Wesbank v Bergh (4304/2014)
Firstrand Bank Limited t/a Wesbank v Bergh (4304/2014) [2017] ZAFSHC 148 (25 August 2017)
The court found that the plaintiff was entitled to terminate the debt review in terms of section 86(10) of the National Credit Act, as the defendant was in default for more than 60 business days after applying for debt review. The amendment to section 86(10) did not apply retrospectively, and the law at the time permitted termination even if the matter had been referred to the Magistrate’s Court. The court rejected the defendant’s argument regarding good faith, as it was not part of the agreed facts for adjudication. The summons issued by the plaintiff was therefore valid and not premature.
Source excerpt
- National Credit Act
- Debt Review Termination
- Retrospective Application Of Statutes
- Special Case Procedure