Justicia Shipena
The Supreme Court has overturned a High Court decision that delayed the sale of bonded commercial properties in the case involving Nedbank Namibia and Anga Enterprises CC.
The ruling follows Nedbank’s appeal against the High Court’s temporary suspension of the sale of properties used as collateral for a loan of more than N$7.8 million.
In 2022, Nedbank obtained a default judgment against Anga Enterprises and its owners. The bank later applied to declare four commercial properties executable. The properties were not primary residences but used for business purposes.
The High Court granted the application but ordered a six-month delay, during which Anga Enterprises was allowed to repay the debt through monthly instalments of N$300,000 to N$500,000.
The court made this order despite no formal request or supporting evidence from the owners.
Nedbank appealed, arguing that the High Court had misapplied a legal provision intended to protect primary residences, not business properties. The bank also said the proposed repayment plan lacked clarity and would not clear the debt within a reasonable period.
On 24 July 2025, the Supreme Court ruled in favour of Nedbank.
Deputy chief justice Petrus Damaseb said the High Court had exceeded its jurisdiction. He said the law allows the sale of commercial properties used as security without the need to assess the debtor’s personal or business circumstances.
Damaseb also noted that the repayment plan was vague and insufficient to settle the debt in time.
The ruling clears the way for Nedbank to proceed with execution. The court did not make a ruling on legal costs.
