Amalgamated Bull Shit Artists

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Hermes (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.
Mefiante (October 09, 2012, 20:04:18 PM):
ABSA owes SA public R3.2 billion plus interest from Apartheid days

Faerie (December 06, 2012, 09:25:04 AM):
So, ABSA no more... not unexpected.


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