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Author Topic:

Amalgamated Bull Shit Artists

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« Reply #45 on: October 03, 2012, 09:44:48 AM »

The way I understand it, these would be "attached" rather than "repossessed" properties.  The bank obtains a court order for the sheriff to attach the property.  The bank's lawyers place a classified legal notice in the newspaper and the sheriff then auctions the property and reimburses the bank/creditor(s).  The bank cannot put a reserve price on it, but may compete in the auction.  It differs from voluntary auctions where a private auctioneer is involved and the seller can set a reserve price or can opt to reject the highest bid.
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In solidarity with rwenzori: Κοπρος φανεται

« Reply #46 on: October 09, 2012, 20:04:18 PM »

ABSA owes SA public R3.2 billion plus interest from Apartheid days

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« Reply #47 on: December 06, 2012, 09:25:04 AM »

So, ABSA no more... not unexpected.

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