COMPLAINTS AGAINST ABSA BANK

For clarity, my initial post was a placeholder required by the HelloPeter system. Below is my full and substantive complaint.

Edith Deanna Pieters
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"ABSA PURSUING *****ULENT AND PRESCRIBED CLAIM AGAINST A TRUST"

To whom it may concern,
I hereby submit a formal and serious complaint against Absa Bank relating to conduct that I believe *****ulent, ********, prescribed, and procedurally irregular, and which continues to cause severe prejudice to me and the Trust of which I was a trustee at the time of the relevant events.

Absa Bank was directly responsible for the liquidation of the close corporation referred to below. The conduct complained of arises from Absa's actions before, during, and after that liquidation, and from its continued pursuit of a claim that has no lawful foundation.

Absa alleges that the Trust stood surety for the obligations of a close corporation. I do not intend to deal with the merits of that allegation i this complaint. Even if Absa contends that there may be disputes of fact, such disputes do not alter the essence of this complaint, which concerns Absa's ******** conduct, conflicting positions, and disregard for insolvency law and procedural fairness.

The close corporation in question was finally liquidated o 2 March 2012. A provisional liquidation had already taken place prior to that date. After the final liquidation, Absa's attorneys were formally informed of the liquidation and were provided with the details of the duly appointed trustees. Despite having full knowledge of the liquidation, Absa failed to lodge any claim against the insolvent estate.

At the same time, Absa and the close Corporation were embroiled in serious disputes. Absa was accused of having acted ********ly and of being directly responsible for the liquidation of the close corporation after it seized the corporation' assets without any court order. When the matter was later heard by the court, Absa was ordered to return all seized assets. It was then revealed, to our shock, that Ansa had already sold those assets in direct violation of the court order. Absa admitted that the assets had been sold despite the absence of lawful authority to do so.

Despite these events, and despite being fully aware of liquidation, Absa never submitted a claim against the insolvent estate of the close corporation. It was widely believed at the time that Absa's failure to submit a claim was linked to a potential claim against Absa itself, arising from the ******** seizure and sale of assets and Absa's role in causing the close corporation's insolvency.

The consequences of Absa's conduct were devastating Management and ten farm workers in Indwe, Eastern Cape, lost their livelihoods. These workers had families and children who had jut started a new school year. Women and children in the Indwe community were dependent on food and financial support generated by the operation. Absa made no attempt to allocate any portion of the proceeds received from the ******** sale of assets to assist the affected workers. We did what we could to assist. One of the workers is still employed today as a direct result of our efforts.

Approximately two years ago, a fire destroyed part of the office where the relevant documentation had been stored. fortunately, most of the documents were recovered. During this process, we discovered two letters sent by Absa to the close corporation dated 17 May 2017. In these letters, Absa expressly admitted that it had incorrectly charged interest and fees amounting to R245,062.55 on one account and R123, 990.18 on another account.

Upon further investigation, it became apparent that Absa had charged millions of rands in interest, penalty interest, administration costs, and other charges against the close corporation long after it had been provisionally and finally liquidated on 2 March 2012. This is legally impossible. Once a company or close corporation has been liquidated, no monthly interest or further charges can lawfully accrue against it. This is particularly so where no claim was ever lodged against the insolvent estate. The close corporation was legally defunct.

Despite all of the above, Absa later submitted a claim of approximately R10 000,000.00 against the Trust, allegedly based on a deed of suretyship. The trust was never summonsed or sued as a surety. The law is clear: surety enjoys the same procedural rights as the principal debtor, the right to be properly sued and afforded the opportunity to defend the matter in court.

In addition, Absa submitted a further claim of just over 1 million rand in respect of equipment and vehicles that Absa had ********ly sold without a court order. This claim was submitted approximately three and a half year after the acceleration of the credit and is clearly prescribed.

I have recently been informed that Absa has abandoned its claim against the insolvent estate of the close corporation. However, the trustees have advised me that Absa nevertheless continues purse this claim this claim against the trust, despite its prescribed nature, the absence of lawful charges, and the lack of any procedural foundation.

We have received contradictory explanations from various parties regarding the alleged claim. Absa itself refuses to respond to our correspondence and has failed to provide any explanation, clarification, or justification for its conduct.

As matters now stand, I am confronted with what appears to be a *****ulent and ******** claim being pursued against me. At the age 68, I am no longer prepared to tolerate baseless, prescribed, and procedurally defective claims, nor Absa's persistent refusal to engage, explain, or account for its actions.

This complaint is submitted in the hope that Absa will finally be compelled to respond, to explain its conduct, and to cease pursuing claims that have no lawful or moral foundation.

Yours faithfully,

Edith Pieters