South Africa and global insurance, financial institutions, banking and general law know–how
This blog was co-authored by Adrienne Hendricks, Candidate Attorney.
The Prudential Authority (the Authority) applied for provisional sequestration of the respondents’ joint estate under sections 83(3)(b) and 84(1A)(c) of the Banks Act (the Act).
The respondents participated in the Travel Ventures International Scheme for which they marketed significantly discounted travel vouchers for international travel and…
This blog was co-authored by Hannah Howell, Candidate Attorney.
The High Court handed down a judgment on 7 October 2024 which spotlighted that an instalment sale credit provider under the National Credit Act (NCA) must prove that the repossessed goods have been sold at the best reasonably obtainable price and may not just get summary…
This blog was co-authored by Adrienne Hendricks, Candidate Attorney.
In an October 2024 High Court judgment, the provision of the Companies Act regulating decisions taken by the board, other than at a board meeting, was interpreted to align with the prohibition on directors with conflicting personal financial interests from participating in board meetings.
Two out…
In September 2024 the High Court underscored the fundamental differences between guarantees and suretyships and the implications of business rescue proceedings on these financial instruments.
The principal debtor was indebted to the bank and had been placed under business rescue. These debts were guaranteed by the respondent as an independent, principal obligation. The respondents renounced…
This blog post was co-authored by Adrienne Hendricks, Candidate Attorney.
In a September 2024 decision of the high court, a bank brought a claim based on two certificates of balance against a surety, who had bound himself as surety for all debts owed by the debtor under an overdraft facility agreement with the bank.
The…
This blog was co-authored with Adrienne Hendricks, Candidate Attorney.
In April 2024 the Supreme Court of Appeal (SCA) dismissed the bank’s appeal from the High Court, finding that the bank was not entitled to enforce a guarantee where the bank had failed to perform its own obligation to increase the facility under the original…
This blog was co-authored by Adrienne Hendricks, candidate attorney at Norton Rose Fulbright South Africa
In August 2024, the High Court held that a bank was entitled to enforce the suretyship and mortgage bond granted in its favour, for purposes of an enrichment claim which arose in connection with a void and unenforceable loan agreement. …
This blog was co-authored by Atish Dullabh, candidate attorney at Norton Rose Fulbright South Africa.
In June 2023, the Western Cape High Court ruled that a guarantor does not have an automatic right of recourse against a principal debtor to recover payment made to a beneficiary in terms of a guarantee. The ruling in this…
This blog was co-authored by Atish Dullabh, candidate attorney at Norton Rose Fulbright South Africa
On 20 February 2024, the Western Cape High Court ruled that a party cannot enforce contractual rights after cancelling the agreement, but there is nothing in law that precludes a party from exercising its contractual rights simultaneously with the cancellation…
Bank or private debt and venture debt are separate segments in the debt financing market. In contrast to venture debt financings, which relate to start-ups, bank or private debt financings involve the financing of established companies that have already generated profits, can provide collateral and service the debt from the start.
Venture debt financings are…
