DA Gauteng leader Solly Msimanga and his company have been taken to court by Mercedes-Benz Financial Services.
The finance company took Msimanga and his company, JD On Time Forklifts, to court in July after they failed to keep up with payments for an expensive and fashionable Mercedes-Benz V250d they bought in October last year.
According to court documents seen by Daily Sun, Msimanga and JD On Time Forklifts bought the fancy minibus for R2,1 million with a monthly instalment of just under R30 000 per month over a six-year period.
However, it appears Msimanga and his company failed to keep up with the repayments, as the finance company approached the Joburg High Court in July asking for a court order to repossess the vehicle.
It’s not clear if Msimanga and his company managed to raise funds to save the car, or if Mercedes-Benz Financial Services managed to successfully repossess the luxury ride.
The bank’s lawyers Smit Jones & Pratt told the People’s Paper their client instructed them not to comment about the story.
Msimanga told Daily Sun last week that he would ask his lawyers to comment on his behalf, but they hadn’t done so at the time of going to print.
Part of the documents read that the first defendant failed to effect the monthly payments due to the plaintiff.
“The first defendant was, as at 6 July 2021, in arrears to the amount of R35 849,28 and the outstanding balance is an amount of R1 861 857,28,” it read.
The document said the company was called to make payment within seven days.
“The first defendant has failed to remedy the said breach with the required period or at all. On or about 29 October 2020, the second defendant (Msimanga) bound himself in writing as surety for and co-principal debtor.”
