Ulenga couple settle with Agribank

12 February 2019 | Justice

In the High Court yesterday before Judge Herman Oosthuizen, former Congress of Democrats leader Ben Ulenga, along with his wife Johanna, entered into a settlement agreement with Agribank for the repayment of debt of N$459 195.44.

On 18 September last year, Agribank had applied to the High Court for a default judgment in that sum. In its founding affidavit, Agribank said that the Ulenga couple had on 17 December 2012 secured three loans, of N$207 600, N$100 000 and N$50 000.

Each loan was repayable on different terms and with different interest rates. However, the Ulengas had, since the signing of the agreements, not made a single payment towards the settling of those debts.

According to Agribank, it is the holder of a third mortgage bond over the property at Erf 130, Pionierspark, as it was furnished as security by the Ulengas. The value of that bond is N$500 000.

“It was a material term of the bond that should the defendants default with any payment, the full amount would become due and payable,” the bank said.

Furthermore, it said it had repeatedly demanded payment from the Ulenga couple but they still failed to make any payment.

The bank asked for payment of N$459 195.44, as well as varying rates of interest as from 31 October last year. It also asked for an order that the residence in Pionierspark be declared executable.

The Ulengas had entered a notice to defend the action but, by 4 February, the bank's counsel, Graham McCulloch from Fisher, Quarmby and Pfeiffer, filed a status report indicating that a settlement had been reached and that this be made an order of the court.

According to the agreement, the Ulengas admitted their liability of the full amount to Agribank but undertook to pay the arrears on the full amount, N$196 300.21, by the end of the year. An amount of N$30 000 would be paid by the end of April, N$80 000 by the end of December, a further monthly repayment of N$5 000 backdated to start on 31 January, and a final payment of N$26 300.21 on or before 30 December.

They further undertook to honour the loan when payments become due, as from next year.

Henry Shimutwikeni appeared on behalf of the Ulenga couple.



YANNA SMITH

Similar News

 

Drug dealer sentenced to 12 years

2 days ago - 15 February 2019 | Justice

The Oshakati Regional Court has sentenced an Angolan man to an effective 12 years imprisonment for dealing in cannabis, illegally entering Namibia through an undesignated...

Heat turned up in vetkoek fight

3 days ago - 14 February 2019 | Justice

YANNA SMITH Following an application brought before the High Court on 6 December last year against Bokomo Namibia, Namib Mills has filed...

Businessman acquitted of rape

3 days ago - 14 February 2019 | Justice

The Oshakati Regional Court has acquitted 39-year-old businessman Sindano Hango of rape.The court found there was not enough evidence to convict Hango, who was accused...

Agribank claims N$10 million from Nambahu

4 days ago - 13 February 2019 | Justice

ELLANIE SMIT Agribank is suing the deputy minister of labour, Tommy Nambahu, for more than N$10.6 million in three claims.The bank...

Huang's money woes deepen

4 days ago - 13 February 2019 | Justice

Chinese businessman and tax-fraud accused Jack Huang's money woes show no sign of abating if court documents are anything to go by.Following his N$3.7-million-dollar lawsuit...

Ulenga couple settle with Agribank

5 days ago - 12 February 2019 | Justice

In the High Court yesterday before Judge Herman Oosthuizen, former Congress of Democrats leader Ben Ulenga, along with his wife Johanna, entered into a settlement...

Kahimise fails at High Court again

5 days ago - 12 February 2019 | Justice

An urgent application filed by Windhoek CEO Robert Kahimise to halt procedures for a possible third suspension failed in the Windhoek High Court on Friday....

Valentine's court date for Swapo

6 days ago - 11 February 2019 | Justice

?A court battle related to the disputed 2017 Swapo elective congress has been postponed to 14 February.During a status hearing last Thursday, the applicants were...

Row over trust funds

1 week ago - 08 February 2019 | Justice

An amendment to the law on the administration of estates allows for the state to take full control of a deceased estate if the beneficiary...

Bail extended for Meersig kidnapping, assault accused

1 week ago - 08 February 2019 | Justice

The kidnapping and assault case against Logan Pretorius (29), Curven Nathan Vries (24), Ashley Andre Januarie (24) and Sandra Riobo (22) has been postponed until...

Latest News

Logistical problems force Nigeria election...

17 hours ago | Africa

Nigeria's electoral watchdog today postponed presidential and parliamentary elections for one week, just hours before polls were due to open.The two main political parties swiftly...

Hostel a threat to lives

2 days ago - 15 February 2019 | Education

The Kavango West education directorate continues to subsidise a dilapidated church hostel at Nkurenkuru, despite a 2010 directive by the health ministry that it must...

Foreign graduates protest 'unfair' tests

2 days ago - 15 February 2019 | Health

Dozens of foreign-trained medical and dentistry graduates took to the streets yesterday to protest against a pre-internship exam which they claim is unfair and discriminatory.One...

FirstRand Namibia fights back

2 days ago - 15 February 2019 | Business

Jo-Maré Duddy – FirstRand Namibia bounced back to positive profit growth in the six months ended 31 December 2018 after taking a knock in the...

Our people sustain our group

2 days ago - 15 February 2019 | Columns

Engaged employees help establish better relationships with customers, since staff are the ones who are actually in contact with customers. This is why FirstRand Namibia...

NaCC scrutinises fuel imports

2 days ago - 15 February 2019 | Business

The Namibia Competition Commission (NaCC) is requesting input from interested and affected parties on the reinstatement of the National Petroleum Corporation of Namibia's (Namcor) intent...

Our Achilles heel of accountability

2 days ago - 15 February 2019 | Columns

Enforcing greater accountability has always been an Achilles heel for the Namibian government over the years. Questions have been raised over whether there is indeed...

RA, Unam sign MoU

2 days ago - 15 February 2019 | Business

Justicia Shipena On 12 February, the Roads Authority (RA) and the University of Namibia (Unam) signed a memorandum of understanding (MoU) at the RA’s...

Mutorwa’s journey with science

2 days ago - 15 February 2019 | People

Justicia Shipena Marius Mutorwa is a lecturer at the Namibia University of Science and Technology (Nust) in the department of health...

Load More