Nedbank loses Sekunjalo ruling appeal bid
Nedbank has failed in its attempt to appeal the court interdict preventing it from shutting down bank accounts belonging to the Sekunjalo Group of Companies (Sekunjalo).
A Cape Times report notes Nedbank had sought leave to appeal the judgment passed in June by Western Cape High Court Judge Mokgoatji Dolamo and had argued that the matter was appealable and as such had reasonable prospects for success.
They had argued that the section of the Equality Act, which governs appeals from the Equality Court, allowed for an appeal against any order of such court and as such the order was appealable.
Dismissing the application for leave to appeal with costs, Dolamo said: ‘The logical conclusion of this line of reasoning is that any order will include interim orders. I do not subscribe to this wide interpretation of this section.’
Regarding Nedbank's argument that the fact that it would have to provide banking facilities to Sekunjalo pending the hearing of the main review application would pose reputational risk, Dolamo said: ‘Without any proof of such risk, in my view, it does not amount to irreparable harm’.
Meanwhile, Sekunjalo chairman Dr Iqbal Survé said yesterday they were pleased commissioners Gill Marcus and Emmanuel Lediga had withdrawn their notice to oppose the review of a report they helped to compile.
Another Cape Times report says on Tuesday, Marcus and Lediga officially submitted their notice of intention to withdraw opposition to the official review of the report.
Sekunjalo took the Mpati Commission Report into alleged impropriety at the Public Investment Corporation to the High Court for an urgent formal review of its contents and to have it set aside.
Survé said Sekunjalo's detractors had used the report against the group and its subsidiaries even though the commission had never proved any misconduct by Sekunjalo.
‘This is a significant victory for Sekunjalo and its group companies. For Sekunjalo, this signifies that the review of the Mpati Commission report by retired Judge Willem Heath has merit and is being taken seriously.’
Article disclaimer: While we have made every effort to ensure the accuracy of this article, it is not intended to provide final legal advice as facts and situations will differ from case to case, and therefore specific legal advice should be sought with a lawyer.
