Bank sues Justice Ramodibedi

By IAfrica
In Uncategorized
Aug 15th, 2014
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Published on August 15, 2014   ·   No Comments

on_Mathealira Michael Ramodibedi

NAT MOLOMO

MASERU – Nedbank (Lesotho) Limited has taken legal action against former President of the Lesotho Court of Appeal Justice Michael Mathelira Ramodibedi for payment of over M300, 000.
According to the summons filed in the High Court, Judge Ramodibedi, who is the Chief Justice of Swaziland, is being sued together with his wife ‘Manapo Jeanette Ramodibedi.
In the first case the bank claims that an amount ofM57 112.96 is due to them in terms of an overdraft facility entered into between the banks and the defendants on February 5, 2013.
Ramodibedi is said to have made a special request, and on behalf of the joint estate, was granted an overdraft facility on his current account with the bank.
The bank has attached a copy of the letter confirming the approval of the facility, and the terms and conditions of the overdraft.
The bank states that the amount extended to the defendants was payable upon demand and the facility expired on January 30, 2014.
The parties agreed that the defendants would pay interest on any overdrawn amount of the account at a rate of 9.75 percent per annum, subject to the rate being amended at the discretion of the plaintiff.
In terms that discretion the plaintiff is applying interest to the account at a rate of 20.25 percent per annum.
“The defendants utilised the facility and is presently overdrawn in the account in the amount of M57, 112.96 as at the June 23, 2014,” the plaintiff states.
The bank claims that despite lawful demand the defendants have failed or neglected to pay.
The plaintiff is asking for judgment against both defendants jointly and severally.
In the second summons the couple is sued over a home loan agreement.
Court papers reveal that on October 28, 2009, at the special instance and request of the first defendant (Mrs Manapo Jeanette Ramodibedi) and with the approval and consent of the second defendant (Justice Ramodibedi) the bank agreed to extend a home loan to the defendants in an amount of M400, 000.
In accordance with the letter written directed by the bank to the first defendant the approval of the loan was granted.
The plaintiff is demanding a full outstanding balance in the amount of M293, 986.81.
The bank states that on or about November 12, 2009, the first defendant accepted the conditions set out in the approval and general terms of agreement.
The agreement between the parties, among others, agreed that a first mortgage bond to secure the repayment of the loan would be registered over Plot 13291 -183, Upper Thamae, Maseru, which is registered in the name of the first defendant married in community of property with the second defendant.
According to the bank, the total loan of M407, 360.00 would be paid over a period of 10 years and in equal monthly installments of M5, 259. 68.
All payments would be made on or before the first day of the month and interest would accumulate a rate of 9.35 percent per annum.
The plaintiff claims that the defendants failed or neglected to pay monthly instalments as at June 26, 2014, and the defendants were in arrears on the installments in the amount of M40, 336.62.
The plaintiff is asking the full balance of the outstanding amount of M293, 986.81.
The court papers indicate further that as security for repayment of the total indebtedness the defendants caused a mortgage bond to be registered over Plot 13291-183, Upper Thamae, the bond was registered in September 23, 2009 under deed N0.29191.
The plaintiff states further that on or about April 23, 2014, it demanded from the defendants M264, 010.28, then outstanding, but the defendants have failed to pay.
The plaintiff is asking for judgment against both defendants jointly and severally, the one paying the other to be absolved, for payment of M293, 986.81 and declaring Plot N0. 13291-183 at Upper Thamae, Maseru, specially executable.
The bank also wants interest on the amount of M293, 986.81 at a rate of 9.35 percent per annum from the date of summons to the date of payment.

Email: info@publiceye.co.ls
Tel: +266 22321414
Mobile: 22 28310614
Fax: +266 22310614
Adddress: P.O. Box 14129, Maseru 100,
Lesotho


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