Legal Articles and Guides
ConCourt to hear HRC case against banks
The Constitutional Court will today hear the Human Rights Commission’s (HRC) case against three major banks for their tendency to apply for default judgments in the High Court against debtors who owe amounts as small as R7 000 on their home loans.
Reserve Bank stopped Guptas’ money-laundering
The SA Reserve Bank’s (Sarb) intervention prevented the Gupta’s from siphoning off more billions through the Bank of Baroda, reports the Daily Maverick.
Two more join Sekunjalo banks application
A former senior government official and a former unionist have joined the Sekunjalo group's application against major banks in the Western Cape Equality Court.
Crypto trader arrested after another fraud charge laid
Sandile Shezi, the man who claims to be SA’s youngest self-made millionaire, was arrested last week for failing to pay back another alleged victim’s money.
Moody’s upgrades SA’s credit rating
Moody’s Investors Service has upgraded its outlook on SA’s credit rating as high commodity prices support the government’s efforts to rein in debt and reduce budget deficits.
Listing mooted for troubled African Bank
The Reserve Bank says it plans to list African Bank rather than sell it directly to investors after finding expressions of interest from prospective buyers ‘unsatisfactory’.
FNB under fire for sanctioning Russian magnate
Russian mining magnate Lyudmila Roytblat has hit back after FNB decided to close her bank accounts with her lawyers warning that if it is connected to the Ukraine invasion, it is 'discriminatory and in breach of the Constitution'.
Absa argument on Sekunjalo accounts ban challenged
Absa's submissions that it could not reopen accounts it had previously closed were rebutted yesterday by Advocate Vuyani Ngalwana SC, acting for Sekunjalo Investment Holdings and 35 other applicants (the Sekunjalo Group), says a Cape Argus report.
Ditching Survé companies 'not unusual', argue banks
SA’s largest commercial banks have defended decisions to either review or terminate their banking relationships with companies linked to Iqbal Survé, saying the treatment of his business empire wasn’t unusual or outside of normal banking practices, especially when dealing with high-profile and risky clients.
Why Survé use of victim card won't work
Nedbank last month announced it was following the example of Absa, FNB, Investec, Mercantile Bank and Sasfin in severing its ties with companies linked to Iqbal Survé, chair of Sekunjalo Investments and of Independent Media.
Lawyers welcome home repossession ruling
Lawyers representing consumers facing home repossessions have applauded a recent case in the Gauteng High Court that blocks lawyers trying to side-step court procedures by selling these homes for less than their market worth, reports The Citizen.
MTI case postponed over late filings
The Western Cape High Court has postponed an application to have disgraced bitcoin trading platform Mirror Trading International declared a Ponzi scheme, reports Fin24.
Businessmen arrested over unauthorised debit orders
Durban businessman Jason Foster was arrested at OR Tambo International Airport after arriving from London on Sunday in connection with a R125m fraud investigation into unauthorised debit orders.
Long4Life sale gets investor approval
Shareholders approved investment holding company Long4Life’s sale to Old Mutual’s private equity arm yesterday.
Sekunjalo case triggers class action against banks
More than 6 000 clients who claim they have been racially or otherwise discriminated against by SA banks have come together in a class-action suit against the banks, says a Cape Argus report.
