Comedian and actor David Cow is a pioneer Comedy for blacks only His multi-million rand home is reportedly set to be auctioned off after he failed to pay FNB.
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“DAVID KAU LOST HIS HOME”
On August 4, the High Court in Johannesburg has reportedly ordered FNB to auction comedian David Kaw’s multimillion-dollar home.
The order according to the Sunday World reads:
“Judgment in absentia was granted in favor of the applicant against the first respondent in the sum of 1,398,651.35 rand. The immovable property known as … measuring 54 square meters … is declared to be specially leviable.’
“[The] the applicant is authorized to issue writs of attachment of the property requesting the Sheriff of the above Honorable Court to attach the property. The sheriff of the aforesaid honorable court to sell the property by auction held in accordance with the provisions of Uniform Rule 46.’
The publication adds that the reserve price of Kau’s property is more than 1.9 million rand and that the actor can still save his home if he pays the bank’s debt and court costs.
The bank’s recovery manager, Ashraf Rocker, adds that Kaw and the banking group entered into a construction loan agreement on April 26, 2006, with more than 1.6 million rand being provided to the comedian, along with an additional loan of 330,000 rand.
“In respect of the mortgage, the first respondent admitted that it was legally indebted and liable to the applicant in the sum of R1,662,198 and a further sum of R333,000,” the documents said.
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A COMEDIAN’S ANSWER
Kaw also reportedly agreed to repay the loan of more than 14,000 rand monthly, but reportedly defaulted in May 2021 and now owes more than 275,000 rand.
FNB lawyers allegedly wrote a letter to the comedian asking him to repay the debt, but he did not. Last week, Kaw filed to set aside and vacate the judgment and writ of execution after learning that the bank had been approved to auction his home.
He reportedly wrote a letter to the bank agreeing to repay the loan and repay the debt in six months, but his request was rejected.
Comedian David Cow told City Press back in April that his lawyer was handling the case and that he had had problems with the bank before the Covid-19 pandemic.
“I wouldn’t want to get up in arms and talk about it. My lawyers are dealing with this, and I will be able to talk about it when the proceedings are over.”