South Africa and global insurance, financial institutions, banking and general law know–how
This blog is co-authored by Neshalia Nayagar, trainee associate.
On 21 February 2025, the Supreme Court of Appeal (SCA) held that the sale and lease transactions did not constitute credit agreements under the National Credit Act (NCA) and were not disguised or simulated agreements which were concluded on terms to avoid the provisions of the…
This blog post was co-authored by Neshalia Nayagar, Trainee Associate.
On 10 February 2025, the Supreme Court of Appeal dismissed an appeal by a lending bank. The appeal related to whether an acknowledgement of debt, incorporating a power of attorney (AOD/POA) that was concluded by the bank, with Mr Serfontein and Mr Serfontein senior, was…
Where an order was sought declaring immovable property specially executable but no facts had been placed before the court by the defendant, the court authorised the sale.
The court held that to deny an order declaring a property specially executable where the summons clearly draws a debtor’s attention to their right to lead evidence and…
The Supreme Court of Appeal found that if the underlying cause of a settlement does not fall within the parameters of the National Credit Act (NCA), then the settlement agreement cannot logically be converted to a credit agreement under the NCA. The underlying cause (in this case the rental agreement) is of vital significance because…
The appeal court has found that the requirement to register as a credit provider is applicable to all credit agreements once the prescribed threshold is reached (currently zero), irrespective of whether the credit provider is involved in the credit industry and irrespective of whether the credit agreement is a once-off transaction. The appeal court…
If a company goes into liquidation claims must be lodged and proved within three months as from the conclusion of the second meeting of creditors of the insolvent company.
The case of Wishart v Billiton is a reminder that although the Companies Act 1973 was largely repealed, the provisions relating to winding-up of companies remain…
In our blogs from July 2015 and August 2015 we dealt with the High Court’s judgment declaring certain aspects of the long-established but often abused debt collecting process of emolument attachment orders unlawful.
On 13 September 2016, the Constitutional Court confirmed that changes must be effected to section 65J (2)(a) and (b) of the Magistrates…
On 11 May 2016, the Department of Trade and Industry announced in Government Gazette 39981 that the new credit provider registration threshold will be Nil (R0). Is the threshold rational and reasonable? If the threshold is not rational, credit providers whose credit agreements are to be declared void may be able to challenge the threshold.…
A settlement agreement concluded outside South Africa between a foreign company and a person resident in the United Kingdom that was concluded completely outside the South African credit market and has no bearing on accessibility to credit by South Africans or the nature of credit products available within South Africa does not “have an effect…
A plaintiff who was a shareholder in a liquidated company sued the company’s bank for a R50 million loss in value of his indirectly held shareholding allegedly caused by intentional conduct of the bank for lending money beyond the means of the company and then liquidating the company. The delictual claim for pure economic loss…
