Marumo Gallants and Flames striker Gabadinho Mhango is on the verge of losing his property to a bank after failing to service his bond, reports Sunday World.
According to the publication, Mhango has been served with summons by Nedbank to pay over R1.2 million or be forced out of his Joburg home.
The bank obtained the summons from the Joburg High Court, where it seeks an order to kick the footballer out of his home and sell it after he failed to keep up with his monthly bond repayment.
Please take notice that Nedbank Limited intends to make an application to this court for an order against the respondent for payment in the sum of R1 228 436.74.
“Payment of interest on the above amount at the rate of 12.60% per annum, calculated and capitalised monthly by the terms of the mortgage bond, from 1 June 2024 to date of payment,” reads the summons.
The financial institution also seeks an order to declare Mhango’s property in Joburg North executable and auction it to the highest bidder for R650,000 or more.
““Authorising the registrar to issue a writ of attachment for the attachment of the respondent’s immovable property. This court set a reserve price of R650 000 for the first sale in execution,” read the papers.
The soccer star has been given ten days to file papers in court if he intends to challenge the application, and afterwards, he should, within 15 days, file his notice of intention to oppose the answering affidavit.
But, it has been reported that despite filing the papers earlier this year, Mhango has not yet filed a notice of intention to oppose the application as well as an answering affidavit, leaving the bank with no option but to place the matter on the unopposed roll.
The publication further reports that Mhango is aware of the situation and that he plans to use the image rights royalties he is demanding from Gallants, amounting to R800,000 plus interest, for exploiting his image rights to promote market and advertise the fixtures of the team on social media platforms ahead of its matches.
However, the club has refused to pay him the money, forcing the player, through his lawyers, to write letters of demand in January for the first payment of R428 000, and the second payment of R400 000.
0 Comments