Question NW2646 to the Minister of Public Works
10 January 2017 - NW2646
Kohler-Barnard, Ms D to ask the Minister of Public Works
What is the current status of the legal action initiated by his department against a certain bank (name furnished) over the ceding of a certain person’s (name furnished) monthly payments from his department to the specified bank in case the specified person defaulted on the repayment of a R380 million bond?
Reply:
The Minister of Public Works
The stated legal action undertaken by the Department of Public Works, where the bank in question intervened as a Respondent has now been settled between the parties. The bank in question has agreed to withdraw its opposition to an order of the court dictating that the lease agreement in question be declared void ab initio.