Times Of Swaziland: E1.6M TUBUNGU HOUSE UP FOR AUCTION

E1.6M TUBUNGU HOUSE UP FOR AUCTION
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BY PHEPHILE MOTAU on 05/07/2018 01:41:00


MBABANE – Woodlands Conference Centre and a house belonging to Thandi Maziya
will go under the hammer.
This follows an order by the court in the matter between Swaziland Development
and Savings Bank against Parklands Group (Pty) and Maziya, who is the second
respondent in the matter.
SwaziBank is demanding over E24 million from the former legislator (Senator).
The writ of execution states that the facility (Woodlands Conference Centre) and
the house would be sold by public auction on August 3, 2018. It states that
Portion 158 (a Portion of Portion 147) of Farm No. 50 situated in the District
of Hhohho measuring 1.3194 hectares with a reserve price would be sold. The
improvements are a conference centre, restaurant building, shop complex,
chalets, storeroom and parking.
The house is situated at Portion 52 of farm Tubungu No. 300 situated in the
District of Manzini. It has a reserve price of E1.6 million and it measures 9999
square metres.
Improvements are a single storey building with two bedrooms, lounge, kitchen and
sanitary rooms.
The bank took her and her company to court, where it was demanding payment of
the money which is in respect of loans which were advanced to her company
trading as Parkland Groups (Pty) Ltd on different occasions.
In one of its claims, the bank alleges that on May 2011, it entered into a
written agreement with Maziya at her special instance.
The bank said that it advanced to Maziya a sum of E1 230 000 and the interest
thereon, was a prime interest of plus three per cent per annum.
It was agreed between the parties that the duration of the finance shall be for
a period of six months from the date of the signing of the agreement in terms of
Clause 4.1 of the agreement. “The plaintiff (SwaziBank) duly discharged all
its obligations and advanced  the request. On or about October 30, 2013, a
letter of demand was issued by the plaintiff to the second defendant (Maziya),
wherein she was requested to make arrangements to settle the indebtedness to the
plaintiff, reads part of the combined summons.