South Africa and global insurance, financial institutions, banking and general law know–how
This blog was co-authored by Felix Le Roux, Candidate Attorney.
On 6 July 2023, the Cape Town High Court dismissed an application brought against the South African Reserve Bank (SARB) for the release of funds subject to a blocking order that was issued due to alleged exchange control contraventions from which the applicant gained R60…
This blog was co-authored by Felix Le Roux, Candidate Attorney.
On 31 May 2023, the Supreme Court of Appeal set aside the Mandatory Audit Firm Rotations Rule (MAFR), which came into effect on 1 April 2023.
The MAFR sought to limit the tenure of any audit firm serving as the appointed auditor of a public…
This blog was co-authored with Felix Le Roux, Candidate Attorney
In a May 2023 judgment, the Pretoria High Court held that arbitrators are precluded from hearing reviews which are brought under the principle of legality.
The Independent Development Trust (IDT), an organ of state, and Bakhi Design Studio (Bakhi) concluded various procurement contracts for the…
This blog was co-authored with Felix Le Roux, Candidate Attorney
On 10 March 2023 the Constitutional Court held that the Special Tribunal, established in terms of section 2(1)(b) of the Special Investigating Units and Special Tribunals Act, 1996 (the SIU Act) to adjudicate civil proceedings emanating from an investigation by the Special Investigating Unit (SIU)…
The case of Khum MK Investments and Bie Joint Venture (Pty) Limited v Eskom Holdings Soc illustrates our courts’ reluctance to interfere with arbitration awards except in the limited circumstances set out in the Arbitration Act. The applicant must not only allege that the arbitrator’s decision was legally wrong. It must show that no reasonable…
Class actions have the potential to be abused by plaintiffs, for example where a large number of claims are brought for trifling amounts and there is no public policy issue. Whether a class action for a small recovery can be pursued will be decided at the certification stage of proceedings, but by then large amounts…
Amendments to the Prescribed Rate of Interest Act are on the horizon. The Judicial Matters Amendment Bill, 2015 seeks to change the prescribed rate of interest to the repurchase rate (the rate at which banks borrow rands from the Reserve Bank) determined by the South African Reserve Bank, plus 3.5% per year. The reasoning behind…
