SBS allegedly inflates debt by about E243 000

MBABANE – A Siteki businessman is angry at the Swaziland Building Society (SBS) after it allegedly inflated a debt he owed from E7 000 to E250 000.

Andries Stephanus Du Plessis, Director of Umzinene Investments, claims he was shocked to discover a notice to have his property sold by public auction yet he knows the matter with SBS was finalised.

SBS is yet to file its responding papers in the matter, through its attorneys. Du Plessis is represented by Zonke Magagula.

Du Plessis claims that the bank unlawfully obtained an order to attach his property alleging that he owes it E249 502.52.

He denies owing such amount, but claims he owes the bank E7 765 in respect of outstanding fees for a mortgage loan he had held with the society. He claims that he had been ordered by the court to repay the amount. He claims that he first made a first instalment of E439 000 to repay a loan of E446 765.

"However, the first respondent’s attorneys rejected the latter cheque, despite that it was a bank guaranteed cheque, arguing that the sum of E 7 765 cannot be a balance on the capital interest and in their view the balance on the capital and interest was E210 432 without stating how they arrived at this figure," read Du Plessis’ affidavit.

He claims that he challenged the decision by SBS’ attorneys before Justice Stanley Maphalala, who ordered that he indeed was indebted to SBS for E7 765 only. He claims that SBS filed an appeal, but the Supreme Court dismissed their application.

He argues that there is no cause for the attachment and the intended sale of his property is unlawful. He claims that the writ of execution was issued out of the office of the Registrar of the High Court.

"The notice of sale, itself was dated August 28, 2006, but the Registrar’s stamp in illegible. The writ of attachment also appears to have been certified by the Registrar, although the date of such certifi-cation is not shown," Du Plessis states, in his affidavit.

The matter is still pending before court.

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