Money lenders application thrown out

MASERU — High Court Judge Ts´eliso Monaphathi on Tuesday dismissed an application for a stay of execution by money lenders in yet another blow for the troubled money lenders.
In their application the money lenders wanted the court to set aside its earlier judgment delivered last month until the Court of Appeal had dealt with their matter in April.
Justice Monaphathi last month ruled in favour of civil servants saying interest charged by money lenders was excessive and irregular.
He also ordered that the three financial institutions — Select Management Services, Afrisure and B-Blue Finance — stop deducting monies from civil servants until the matter had been resolved.
But the financial institutions appealed against the ruling.
In a judgment delivered on Tuesday, Justice Monaphathi again ruled in favour of civil servants.
“There will be no stay of execution. The application fails,” Justice Monaphathi ruled.
He said money lenders had refused to disclose how much was owed to them.
“If they had disclosed what was owed to them, it could have assisted the court to come to a ruling that could have been in their favour,” he said.
“Money lenders who are applicants (in this matter) had failed to convince the court when they were res-pondents in the same matter,” Justice Monaphathi said.
He said the court was not convinced that it was wise for the money lenders to continue taking money from civil servants pending their appeal next year.
Justice Monaphathi ordered the money lenders to stop deducting money from civil servants until the matter was resolved.
“Payments to the money lenders should be stopped. The deductions were impermissible. I don’t see any wisdom in giving the judgment in favour of the applicants,” he said.
Advocate Motiea Teele and Johan C Daffue represented the applicants while Kananelo Mosito and Tebello Thoahlane represented the civil servants.

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