First SME Bank defaulter to pay
The first holder of a loan at the bankrupt SME Bank has been ordered, by way of a High Court summary judgment, been ordered to pay back her loan.
The now defunct SME Bank, represented by its appointed liquidators David Bruni and Ian McLaren, was granted a summary judgment against a Windhoek entrepreneur.
The High Court has ordered Petrina Keramin, as the sole member of her CC Emporium Investments, to pay back over N$1.9 million being the outstanding balance in respect of a N$4.3-million loan she obtained from the bank.
Judge Herman Oosthuizen ordered Keramin to pay compound interest calculated daily, and capitalised monthly, on the over N$1.9 million at the rate of 15.50% calculated from 1 September 2017 to date of the final payment.
”The case is deemed finalised and the matter is removed from the roll,” the judge ruled.
Emporium Investments in breach of its obligations in terms of the loan agreement, had failed to pay the full amount due to the bank on 31 July 2017 to date. This was despite a letter of demand issued which for the outstanding amount. The bank had to cancel the loan agreement due to the breach. The liquidators, upon enquiry, did not reply on progress made with regards to the status of depositors paying back loans to the bankrupt SME Bank.
FRED GOEIEMAN
The High Court has ordered Petrina Keramin, as the sole member of her CC Emporium Investments, to pay back over N$1.9 million being the outstanding balance in respect of a N$4.3-million loan she obtained from the bank.
Judge Herman Oosthuizen ordered Keramin to pay compound interest calculated daily, and capitalised monthly, on the over N$1.9 million at the rate of 15.50% calculated from 1 September 2017 to date of the final payment.
”The case is deemed finalised and the matter is removed from the roll,” the judge ruled.
Emporium Investments in breach of its obligations in terms of the loan agreement, had failed to pay the full amount due to the bank on 31 July 2017 to date. This was despite a letter of demand issued which for the outstanding amount. The bank had to cancel the loan agreement due to the breach. The liquidators, upon enquiry, did not reply on progress made with regards to the status of depositors paying back loans to the bankrupt SME Bank.
FRED GOEIEMAN
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