In a ruling delivered in the Windhoek High Court, Judge Lotta Ambunda struck down Hauwanga's application, citing that it did not meet the requirements to be heard as an urgent matter. The application was filed last week in an attempt to halt the auction of Hauwanga's assets, including six lorries, two tractors, workshop equipment, vehicle parts, tools, and office furniture. The auction is scheduled to take place in Oshakati.
The judicial auction is a result of a summary judgement granted in favor of Bank Windhoek, worth N$137 million, against Hauwanga, his wife Mirjam, and several corporate entities. The judgement was granted in early July, after the law firm representing Hauwanga and the other defendants withdrew from the case. Hauwanga claims that the judgement was granted in their absence, depriving them of their constitutional right to a fair hearing and legal representation.
According to Hauwanga's sworn statement, the debt to Bank Windhoek arose from a loan used to fund mining activities and business in Angola's Bié province. The mining operations were severely impacted by a flood in late 2024, which resulted in significant relocation costs of approximately N$20 million. Hauwanga asserts that these unforeseen circumstances negatively affected the mining operations, revenues, and ability to service the loan.
Hauwanga and the other defendants are disputing the bank's calculation of their debt, including a loan administration fee of around N$788,000. They had requested the court to put the judicial auction on hold until an application to rescind the summary judgement is heard and decided. However, Judge Ambunda's ruling has paved the way for the auction to proceed.
The impact of the auction on Hauwanga's business operations could be significant, as he warned that it would lead to an irreversible halt in commercial activities, attachment of business assets, and ultimately, execution against the applicants' assets. The auction is set to take place tomorrow, with various assets up for sale.
The failed attempt by Hauwanga to halt the auction highlights the ongoing challenges faced by his business conglomerate. The company has been struggling with the aftermath of the flood in Angola and disputes over the debt to Bank Windhoek. The outcome of the auction and future developments in the case will likely have significant implications for Hauwanga's business operations.
Key points
- A Namibian court has dismissed an application by businessman Ben Hauwanga to stop a judicial auction of his assets, worth N$137 million.
- The auction is a result of a summary judgement granted in favor of Bank Windhoek against Hauwanga and several corporate entities.
- Hauwanga and the other defendants are disputing the bank's calculation of their debt, including a loan administration fee of around N$788,000.
