STANDARD BANK WINS AGAINST EM LOGGERS OVER UNPAID VEHICLE LOANS

MBABANE - The court has ruled in favour of Standard Bank Eswatini Ltd in a legal dispute against EM Loggers (Pty) Ltd concerning unpaid loans for financed vehicles.
The court’s decision, delivered on February 18, 2025, grants the bank the right to repossess the vehicles in question after the defendants failed to meet their financial obligations.
Standard Bank initiated legal action against EM Loggers (Pty) Ltd after the company allegedly defaulted on its vehicle and asset finance agreements.

 The case revolved around multiple financed vehicles that were acquired under loan agreements, but were not fully paid for as per the contractual terms.
The bank sought the court’s intervention to recover outstanding amounts owed and to reclaim the financed vehicles from EM Loggers and its directors, who had signed as guarantors for the loans.
The failure to honour the agreements resulted in significant financial exposure for Standard Bank, prompting legal action.

After reviewing the evidence presented, the High Court ruled in favour of Standard Bank, affirming that:
l    EM Loggers failed to meet its repayment obligations, breaching the terms of its agreements.
l    Standard Bank had the contractual right to repossess the financed vehicles, as per the asset finance agreement.
l    The defendants did not provide a valid defence to justify the non-payment of the loans.
As a result, the court authorised the repossession of the vehicles and ruled that EM Loggers must cover legal costs incurred by Standard Bank during the litigation process.

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