Legal Articles and Guides

SA crypto-currency exchanges have expressed disappointment over First National Bank’s (FNB’s) decision to close crypto-currency-linked bank accounts, says an ITWeb report.

A prestigious KZN school has had to obtain a default judgment against former President Jacob Zuma for his failure to pay school fees of R12 517, Rapport reports.

Hawks head Lieutenant General Godfrey Lebeya says he expects imminent action in the case against those responsible for looting the now-defunct VBS Mutual Bank.

Capitec Bank will probably have to back down from its attempt to block a R500m settlement that would see Regiments Capital repay money it stole from the Transnet Second Defined Benefit Fund (TSDBF).

The Constitutional Court has found that an acknowledgement of the debt agreement, which bound property mogul Roux Shabangu and a number of other high-powered names to the repayment of R82m to the Land and Agricultural Development Bank is unenforceable, on the basis that it stemmed from a loan agreement that was declared invalid, says a Daily Maverick report.

The City of Johannesburg reported a breach of its network last night and shut down its website and all e-services, hours after receiving a bitcoin ransom note from a group called the Shadow Kill Hackerr, says a BusinessLIVE report.

The Labour Court in Johannesburg has quashed what would have been the biggest banking strike in 99 years, by ruling the planned protest action was unlawful.

Business Unity SA (Busa) is going to court in a bid to stop finance union Sasbo, a union federation Cosatu affiliate, from embarking on a total shutdown of the banking sector from Friday, the Banking Association SA (Basa) said, according to Business Day.

Stellenbosch University’s Law Clinic is to launch a class action suit against Lifestyle Direct Group International, its affiliate websites – including Loan Locator, Loan Choice, Loan Picker and Loan Quest – and its collection firm, Lifestyle Legal, on behalf of the thousands of SA loan seekers who were allegedly duped by those sites.

The Gauteng High Court (Johannesburg) will hear today from the liquidators of VBS Mutual Bank who are attempting to recover more than R4.2m owed by Brian Shivambu's company Sgameka, and to have it liquidated.

CEO of Vele Investments and former VBS Mutual Bank COO Robert Madzonga has instructed his lawyers to appeal against a final sequestration order.

Peter Moyo’s NMT Capital, the company at the centre of his conflicts with Old Mutual, is facing a claim of more than R150m from the Industrial Development Corporation (IDC), according to Business Times.

Brian Shivambu, in his personal capacity, must pay back R1.78m owed to VBS Mutual Bank, the Gauteng High Court (Johannesburg) has found, according to a Daily Maverick report.

The Hawks claim they have swooped on crooks who skim and clone credit cards, says a Cape Times report. The Hawks added sophisticated card fraud syndicates and scammers have been dealt a blow following convictions led by its ATM Task Force and Serious Commercial Crime Investigation Unit.

The final two directors of VBS Mutual Bank have been finally sequestrated, Netwerk24 reports. Liquidator Anoosh Rooplal announced that the Gauteng High Court (Johannesburg) dismissed the challenges of former operations head Robert Madzonga, former chief executive Andile Ramavhunga, and his wife Zanele, to their provisional sequestrations.