A court in Kostanay has upheld a claim by a joint-stock company and ordered a local resident to hand over two cars bought on credit to a bank as collateral, with a combined value exceeding 12 million tenge, the website infohub.kz reports.
According to the official Telegram channel of the courts of the Kostanay Region, the court heard a civil case brought by a joint-stock company against a citizen seeking to compel the transfer of property as collateral.
According to case materials, the bank and the defendant had signed bank loan agreements. Under those agreements, the bank provided loans for the purchase of two vehicles worth more than 6 million tenge each. The Chevrolet cars, produced in 2021 and 2022, were registered as collateral securing the loan obligations.
The defendant failed to meet his obligations on time and was unable to repay the debt. The bank sent demands for the cars to be handed over as collateral, but they went unanswered.
At the hearing, the defendant acknowledged the debt but asked for additional time to repay it. The court denied the request, since such measures must be agreed upon before the trial.
The court relied on articles of the Civil Code of the Republic of Kazakhstan governing collateral and bank contracts, as well as on the terms of the agreement that the defendant had signed voluntarily.
As a result, the court ruled in favor of the plaintiff's claims. The defendant is obliged to hand over the cars in his possession to the bank as collateral.