Category: STANDARD BANK
Over 225 applicants, primarily from Gauteng’s poorer townships, have instituted a R60 billion claim for damages against some of South Africa’s biggest banks.
GroundUp reports that the case revolves around a number of unlawful repossessions by the banks over the past 23 years, with the R60 billion figure based on the average estimated loss of home equity value, multiplied by the roughly 100,000 homes repossessed since 1994.
Nedbank, Absa, FirstRand Bank and Standard Bank are cited as respondents in the case, as well as the National Credit Regulator, the Minister for Justice and Constitutional Development, the SA Human Rights Commission and the High Court Rules Board.
Auction Alliance paid off bank officials, says report – paying referral commissions to bank officials at Absa, Nedbank, RNB/FNB and Investec.
WHILE mandated to market and sell bulk properties on behalf of Absa, Auction Alliance allegedly acquired some of the residential units for itself without disclosing this to the bank.
Auction Alliance is also accused, in the Greyling forensic report that Business Day has seen, of paying referral commissions to bank officials at Absa, Nedbank, RNB/FNB and Investec.
The report is the product of a forensic probe carried out by Allan Greyling and his team at Accountants at Law (A@L) in 2012. It has been buried away from the public eye ever since.
Sometimes the banks just can’t get it right. Here’s a case where Standard Bank’s legal department flatly denied a customer’s mortgage loan had been securitised, while another department in the same bank sent proof that the loan had in fact been sold to an entirely different legal entity.
Busted. That’s what happens when the left hand doesn’t know what the right hand is doing.
What makes this case even more interesting is that the customer, Jack Darier of Parkhurst in Johannesburg, does not have a judgment against his name, nor is his house under threat of being repossessed. He just wanted to know if his home loan had been securitised – in other words, on-sold by the bank to a new owner. That means the bank no longer has legal standing to bring action against the customer in the event of default. You can see below how the banks get around this – it’s a simple cession, they argue successfully in our brain dead courts.
NOTICE OF SALE IN EXECUTION
In execution of a judgment of the North Gauteng High Court, Pretoria (Republic of South Africa) in the above-mentioned suit, a sale without reserve will be held by the Sheriff, Potchefstroom, at 86 Wolmarans Street, Potchefstroom, on 11th day of February 2015 at 11h00 of the undermentioned property of the Defendants, subject to the conditions of sale which are available for inspection at the offices of the Sheriff Offices, Potchefstroom, during office hours. Remaining Portion of Portion 3 (a portion of Portion 1) of Erf 279, Potchefstroom Township, Registration Division I.Q., Province of the North West, measuring 991 (nine hundred and ninety-one) square metres, held by Deed of Transfer
No. T29777/2001. Also known as: 163 Rivier Street, Tuscany Glen, Potchefstroom.
The following information is furnished with regard to improvements on the property, although nothing in this respect is guaranteed: 3 bedrooms, 1 bathroom, kitchen, 3 living-rooms, 1 garage, 1 servants quarters. Dated at Pretoria on the 12th day of January 2015.
Vezi & De Beer Incorporated, Plaintiff’s Attorneys, 319 Alpine Road, Lynnwood; PO Box 13461, Hatfield, 0028. Tel: (012) 361-5640. Direct fax: 086 685 4170. E-mail: email@example.com Ref: M Mohamed/RR/S4975.
NOTICE OF SALE
This is a sale in execution pursuant to a judgment granted in the High Court of South Africa (KwaZulu-Natal, Durban), under writ of execution issued thereafter, the immovable property listed hereunder will be sold to the highest bidder without reserve at the Sheriff’s Office, Ground Floor, 18 Groom Street, Verulam, at 10:00 am, on Friday, the 13th day of February 2015. Description: Erf 1702, Brookdale, Registration Division FU, Province of KwaZulu-Natal, in extent 478 (four hundred and seventy-eight) square metres, held by Deed of Transfer No. T53366/2008. Physical address: Door No. 10, Palmbrook Road, Brookdale, Phoenix. Zoning: Special Residential. The property consists of the following: Block under tile roof, consisting of 1 x lounge, 1 x kitchen, 3 x bedrooms,
1 x bathroom, verandah, 1 x garage. Nothing in this regard is guaranteed.
1. The sale shall be subject to the terms and conditions of the High Court Act and the Rules made thereunder. 2. The purchaser shall pay a deposit of 10% (ten per cent) of the purchase price and the auctioneer’s commission plus VAT thereon in cash, bank-guaranteed cheque, or via EFT immediately after the sale and the balance against transfer to be secured by a bank or building society guarantee, to be furnished to the Plaintiff’s attorneys within 14 (fourteen) days after the date of sale, to be approved by the Plaintiff’s attorneys. 3. Transfer shall be effected by the attorneys for the Plaintiff and the purchaser shall pay all transfer dues, including transfer duty, current and/or arrear levies/rates and/or Value Added Tax and other necessary charges to effect transfer upon request by the sale attorneys. 4. The full conditions of sale may be inspected at the offices of the Sheriff of the High Court, Inanda Area One, 1st Floor, 18 Groom Street, Verulam. 5. The Rules of this auction are available 24 hours prior to the auction at the office of the Sheriff of the High Court, Inanda Area One. 6. Registration as a buyer is a pre-requisite subject to specific conditions, inter alia: 6.1 Directive of the Consumer Protection Act 68 of 2008 (URL www.info.gov.za/view/DownloadFileAction?id=99961); 6.2 FICA—legislation i.r.o. proof of identity and address particulars; 6.3 Payment of registration deposit of R10 000,00 in cash; 6.4 Registration of conditions.
The office of the Sheriff Inanda Area One will conduct the sale with auctioneers T Rajkumar and/or M Chetty and/or R Narayan and/or S Singh and/or Mrs R Pillay.
Advertising costs at current publication rates and sale costs according to Court Rules apply. Dated at Umhlanga this 8th day of January 2015. Garlicke & Bousfield Inc, Plaintiff’s Attorneys, 7 Torsvale Crescent, La Lucia Ridge Office Estate, La Lucia. (Ref: Mr Bruce Rist/sjc.) (L0673/13).
THE STANDARD BANK OF SOUTH AFRICA LIMITED, Plaintiff, and VUSIMUZI JUSTICE MTHALANE, First Defendant, and VICTRESS VANGIWE GIWU, Second Defendant
NOTICE OF SALE
The following property will be sold in execution to the highest bidder on Wednesday, 10 December 2014 at 10h00, at Unit 1/2, Pastel Park, 5A Wareing Road, Pinetown, namely: 5 Bradford Place, New Germany, KwaZulu-Natal. Portion 1 of Erf 3593, Pinetown (Extension 25), Registration Division FT, Province of KwaZulu-Natal, in extent 1 387 (one
thousand three hundred and eighty seven) square metres, held by Deed of Transfer No T11767/05, subject to the conditions therein contained. Improvements, although in this regard, nothing is guaranteed: A brick under tiled roof dwelling comprising of 1 lounge,
1 dining-room, 1 kitchen, 4 bedrooms, 2 bathrooms, 3 w/c—outbuilding comprising of 2 garages, 1 servant room. Zoning: Residential.
Take notice that:
1. This sale is a sale in execution pursuant to a judgment obtained in the above Court.
2. The Rules of this Auction are available 24 hours before the auction at the office of the Sheriff for Pinetown at Unit 1,
Pastel Park, 5A Waering Road, Pinetown.
3. Registration as a buyer is a pre-requisite subject to conditions, inter alia:
(a) Directive of the Consumer Protection Act 68 of 2008 (URL www.info.gov.za/view/DownloadFileAction?id=99961);
(b) FICA—legislation in respect of proof of identity and address particulars;
(c) Payment of a registration fee of R10 000,00 in cash;
(d) Registration conditions.
4. The office of the Sheriff for Pinetown will conduct the sale with auctioneers, N. B. Nxumalo and/or H. Erasmus.
5. Advertising costs at current publication rates and sale costs according to Court Rules, apply.
Allen Attorneys, Plaintiff’s Attorneys, No. 57 Swapo Road, Durban North. (Ref: GDA/EP/210761520.)