SARB moves to liquidate community bank
Ditsobotla is in worse financial shape than previously thought, and the resolution process is unlikely to turn things around.
#HighCourt
High Court allows OMART to search underwriting manager’s premises
Old Mutual Alternate Risk Transfer wants to access data held by SA Guarantee Specialists after discovering that offshore guarantees were issued without authorisation.
Court slaps Ithala for ignoring warnings, upholds repayment administrator’s authority
The High Court says the state-owned financier must comply with deposit controls while awaiting the Supreme Court of Appeal’s ruling.
ConCourt clarifies scope of section 30P of the PFA proceedings
The Adjudicator breached audi alteram partem by making adverse findings about a Fund’s investigation without giving it a substantive opportunity to respond.
Funds must fully verify dependency before allocating a death benefit
The Constitutional Court finds that a fund relied on unverified, one-sided information and failed to establish the extent of factual dependency.
Ithala warns court ruling could shut bank before liquidation appeal
The repayment administrator and the Prudential Authority appealed a High Court ruling that allowed Ithala to continue operating while liquidation proceedings are pending.
Pothole crash leads to R26.6m compensation award
As a result of the accident, the plaintiff is a paraplegic and will require extensive ongoing medical treatment.
Tribunal affirms Ombud’s stance on credit life cover complaint
After the High Court remitted the matter, a new Tribunal panel deemed the challenge ‘frivolous and vexatious’.
FSCA can serve penalty notices electronically on foreign respondents
As a result of the declarator, the High Court ordered the Tribunal to revisit its decision regarding the R50m fine imposed on Viceroy Research.
Subrogation ruling ‘has far-reaching consequences’ for insurers
The ruling requires insurers to plead subrogation and join as parties in civil actions, departing from long-standing practice that allows insurers to step into their insured’s shoes without separate citation.
Customary vs civil marriage: court rules they cannot co-exist
Judge dismisses claim both marriages are valid, sending dispute back for further evidence on the customary marriage’s existence.
Letsoalo fights to keep RAF job as court weighs suspension battle
The suspended RAF CEO claims the board misled Parliament and the Minister of Transport as he seeks to overturn his suspension and block the search for his replacement.
FSCA probes CoCre8 entities amid liquidation and fraud allegations
The High Court has authorised a commission of inquiry into the affairs of CoCre8 Gold.
No shortcut to dismissing foreign nationals without work visas
A valid work permit may be absent, but fair labour procedures must still be followed.
SCA remits case dealing with protection of insurance benefits from insolvency claims
At issue is whether a death benefit received by a surviving spouse is protected from the creditors of an insolvent joint estate.
High Court slams RAF for wasting millions on ‘chaotic’ cases
Judge says the fund’s failure to send lawyers to court or provide them with instructions is leading to default judgments.
Court clarifies NCA application to suretyships in vehicle finance case
Sureties cannot rely on the National Credit Act if the principal debt falls outside its scope.
