Steve Chemaly

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This blog is co-authored by Brigitte Eloff and William Hayne, candidate attorneys.

In April 2025, the Pretoria High Court admitted evidence regarding the transmission, interception and admissibility of data messages as evidence that suretyship agreements were properly signed.

The bank, as lender, sought a monetary judgment against the first and second respondents, as sureties. The…

This blog is co-authored by William Hayne and Francisco Andrade Nobrega, candidate attorneys.

In April 2025 the Supreme Court of Appeal confirmed the application of the test for usurious interest rates set out in African Dawn Property Finance 2 (Pty) Ltd v Dreams Travel and Tours CC [2011] 3 ALL SA 345 (SCA) (African…

This blog was co-authored by Eric Geldenhuys, candidate attorney at Norton Rose Fulbright South Africa

The Credit Adjustment Spread (CAS) is a term which is used to calculate and to factor in the difference between JIBAR and ZARONIA. The CAS calculation is a structured as separate component of the interest rate calculation. The CAS is…

This blog was co-authored by Eric Geldenhuys, candidate attorney at Norton Rose Fulbright South Africa

The Daily Cumulative Compounded Rate (CCR) means the interest rate that is calculated at the end of the interest period. This single interest rate is applied for the whole interest period. The daily fluctuations are reduced over the calculation period…

This blog was co-authored by Eric Geldenhuys, candidate attorney at Norton Rose Fulbright South Africa

The Observation Period refers to the period for which the Interest Period which has been moved or shifted back in whole by 5 Business Days. We can observe the published daily ZARONIA rate which applies to any current Business Day…

This blog was co-authored by Eric Geldenhuys, candidate attorney at Norton Rose Fulbright South Africa

The proposed 2026 rate switch in South Africa from JIBAR to ZARONIA will have an impact on all cash transactions which previously applied JIBAR, as well as all JIBAR-linked transactions. ZARONIA is a daily risk free rate, unlike JIBAR which…

This blog was co-authored by Eric Geldenhuys, candidate attorney at Norton Rose Fulbright South Africa

Markets globally have transitioned from USD LIBOR to the Secured Overnight Financing Rate (SOFR) and from British Pound Sterling LIBOR to the Sterling Overnight Index Average (SONIA). Following the global markets, South Africa is transitioning from JIBAR to the South…

This blog was co-authored by candidate attorney Eric Geldenhuys and Adrienne Cloete.

In February 2024, the Supreme Court of Appeal, in Lindsey v Conteh, considered the enforceability of foreign judgments in South Africa. The appellants sought to enforce two writs, one for possession of shares and one for execution of the monetary value of…