I bought R1.8m Maserati to get an overdraft, Ocean Basket owner tells judge

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The owner of a struggling Johannesburg restaurant told a judge he bought a R1.8m Maserati to improve his credit record.

But with the SUV missing, a debt that has ballooned to R2.7m and an overdraft rejection letter on his desk, Charles Renney failed to convince acting judge Jenine Khan to throw out WesBank's repossession application.

Khan said he had no evidence, adding that Renney and his business, Mazel Foods, may well be the victims of fraud “but this is a result of their own actions and not [WesBank's]". “Abdul and Bongani analysed his financial situation and concluded that [Renney] needed to improve his credit score before an application for an overdraft facility was likely to be granted,” said Khan.

“During August 2019, [Renney] received confirmation that a credit card facility with a R50,000 credit limit had been approved for him but the overdraft facility promised to him had not materialised,” said Khan. "[Renney] ... has not attached copies of the affidavits in support of the charge of theft as the docket cannot be traced by the SA Police Service,” said Khan.

 

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ehlers_anthony Financial genius, isn't it..? Not.

iamkoshiek more violence

Just when you thought you have heard it all, from Zizi Kodwa to forma President Zuma and then this. S Africa remains a landmine for every legal student and interested parties.

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