3Sixty Life appeal bid dismissed, SCA looms
3Sixty Life has had its application for leave to appeal against its final curatorship dismissed by the Gauteng High Court (Johannesburg), says a Business Day report.
On 30 September, Judge Fiona Dippenaar ordered that 3Sixty Life be placed under final curatorship after an almost year-long battle against the Prudential Authority.
Dippenaar also named Tinashe Frank Mashoko of BDO SA as 3Sixty Life’s new curator after cancelling the appointment of Yashoda Ram, the former head of actuarial services at the same firm.
However, in an electronic judgment handed down on 7 November, Dippenaar dismissed 3Sixty Life’s appeal application with costs, including the cost of two counsel.
3Sixty Life’s acting CEO, Khandani Msibi, said the company intended taking the matter to the SCA.
‘It is going to the SCA,’ said Msibi, without providing a date for when 3Sixty Life might launch its next appeal application.
‘The status quo remains.’
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.
