Landmark securitisation case heads for the Constitutional Court

Posted 04 May 2015

A landmark securitisation case is headed for the Constitutional Court that will test the banks’ right to repossess homes where the mortgage bond has been ceded to a new owner. The Concourt is also being asked to decide whether going under debt review constitutes an act of insolvency.

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The world's newest country: Liberland, where tax is optional

Posted 27 April 2015

Liberland, a tiny dot of land wedged between Croatia and Serbia, is the world's newest country, founded by Czech libertarian Vit Jedlicka. Taxes are optional, there is no army and its borders are open to all. No wonder more than 200,000 people have requested to live there, reports the Guardian.

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Some companies will simply ignore new BEE codes

Posted 23 April 2015

New BEE codes issued by the Department of Trade and Industry are so onerous that many companies will ignore them. They will use the Constitution as their moral and legislative compass, according to Loane Sharp of the Free Market Foundation.

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Badly written laws end up in court

Posted 22 April 2015

Three badly written laws are now before the courts for adjudication. One of these has been referred by the National Credit Regulator, seeking to establish whether repossessed assets sold at auction can be sold far below market price. The solution suggested is to set a reserve price.

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SA firms in Africa put at risk by xenophobic attacks

Posted 20 April 2015

South African businesses operating in Africa could suffer from the xenophobic attacks. (David Harrison, MG)Xenophobic violence that has claimed the lives of at least seven people has prompted reprisals against South Africans from Mozambique to Nigeria. Outrage is building across the continent, placing South African firms such as MTN and Shoprite, at risk.  

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Jonn Basson dies during raid on his farm by sheriff

Posted 16 April 2015

Jonn Basson, founder of the social justice movement People Against Lawyers and Liquidators, died this morning after his farm east of Pretoria was raided by the sheriff of the High Court and liquidators. Basson had been fighting to stave off eviction from the farm, claiming he had been fraudulently liquidated.  

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O'Sullivan targets Police Commissioner Piyega after office raid

Posted 16 April 2015

Celebrity investigator Paul O'Sullivan has promised to bring down police commissioner Riah Piyega after his offices were raided yesterday morning by about 20 police officers and his cell phones and computers were seized. The State has agreed to return ther seized items today, while O'Sullivan is seeking to set aside the search warrant.

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Auction Alliance investigation given new lease of life

Posted 12 April 2015

Rael Levitt, former CEO of the now defunct Auction Alliance which closed down in 2012 following disclosure of fake auctions, has failed to prevent the Hawks from investigating allegations of fraud, corruption and money laundering.

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Bogus land claims get short shrift at the Supreme Court

Posted 10 April 2015

Tales of bogus land claims and scammers are legion. One farmer was subjected to a bogus land claim for 10 years, and was met with delays and incompetence when he tried to get answers from the Land Claims Commission. The Supreme Court of Appeal had some choice words for the Commission in a recent case.

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Cell phone tapping and board room bugs becoming more commonplace

Posted 07 April 2015

Cell phone tapping and board room bugging is becoming more commonplace - as is cell phone jamming technology, as opposition parties recently discovered in Parliament. Where's the safest place to have a private conversation? Just like in the movies, on a park bench.

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Supreme Court allows City of Cape Town to reveal Sanral's e-tolling secrets

Posted 31 March 2015

The Supreme Court of Appeal has ruled that court files are open to the public, reinforcing the Constitutional Court's view that proper reporting on court proceedings was vital in promoting open justice and accurate public knowledge of the justice system. 

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The days of (nearly) free cell phone calls are upon us

Posted 31 March 2015

Here's how free markets, given the slightest opportunities, eventually demolish cartels and monopolies. Whatsapp is about to launch a (nearly) free voice call service to its 700 million users worldwide, and mobile companies are fretting about how this will impact their futures.

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Print media circulation plunges

Posted 26 March 2015

The latest Audited Bureau of Circulation (ABC) figures make for disconcerting reading. Only two significant titles show growth: Soccer Laduma and The Post. For the rest, the "news" ain't what it used to be. Based on these figures, some of our most cherished publications may not be around in a few years.

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Meet the man who tried to arrest the board of Standard Bank

Posted 20 March 2015

Jonathan Buckley of Centurion in Pretoria may be the first South African in history to win six judgments against Standard Bank in one day. When the bank failed to comply with the court order compelling it to release documents related to loans he had taken out, he sued the directors for contempt of court.  

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Spy agency run amuk

Posted 18 March 2015

The Spy-gate leaks by Al Jazeera opened up a fascinating window into the world of spy craft. But even more damning than these embarrasing leaks are reports that South Africa's spy agencies are being used to further political agendas on behalf of factions within the ANC.

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Calls grow for class action suits against banks over securitisation

Posted 13 March 2015

Disgruntled bank customers are signing up for a class action suit against the banks after new evidence suggests banks are concealing their securitisation activities from customers, the courts and investors, in what could turn out to be the largest banking fraud in South African history. 

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R2K slams Film and Publication Board's attempt to censor the internet

Posted 11 March 2015

In a move eerily reminiscent of apartheid-era censorship, the Film and Publication Board published a draft online regulation policy earlier this month that would give it the right to police everything on the internet, including blogs, personal websites and Facebook pages.

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Better to mediate than to litigate

Posted 11 March 2015

Litigation is expensive and, by its nature, adversarial. The justice system will soon be able to offer court-based mediation as an alternative method of dispute resolution, where opposing parties will be encouraged to find one point of common agreement, rather than multiple points of disagreement.

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Report ready on botched state prosecutions

Posted 09 March 2015

The State prosecution's preparation of cases leaves much to be desired. The State's case against Shrien Dewani, the UK businessman charged and then acquitted of murdering his wife, fell apart in record time. This prompted the justice department to review the matter.

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Ambulance chasing lawyers push up cost of medical indemnity insurance

Posted 09 March 2015

Medical litigation has hit crisis proportions in South Africa, prompted by litigation lawyers motivated not so much by care for patients than by opportunities to line their own pockets, according to health minister Aaron Motsoaledi. The same kind of behaviour bankrupted the Road Accident Fund.

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SA spies run for cover after Al Jazeera leaks

Posted 06 March 2015

The State Security Agency is in turmoil after spy leaks by Al Jazeera. Long-time agents working abroad have had their cover blown and have been hurriedly returned to South Africa. The spy cables reveal some truly astonishing and embarrasing intelligence gaffes, and leaves one wondering who the SSA actually serves.

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50% increase in complaints to Credit Ombud last year

Posted 05 March 2015

The Credit Ombud reported a 50% increase in complaints over the last year, most of them related to "Emolument Attachment Orders". One large lender appears to have been responsible for a large percentage of these complaints, but the Credit Ombud does not say which company it was.

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Shuttleworth's exchange control case headed for Concourt this week

Posted 03 March 2015

The Reserve Bank took R250 million in levies off Mark Shuttleworth when he tried to move his funds offshore. Having challenged this in the High Court and Supreme Court of Appeal, he is now headed for the Constitutional Court. 

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SA researchers make startling allegations of securitisation fraud

Posted 25 February 2015

The Commercial Crimes Unit of the South African Police Services has asked for additional information relating to new evidence of securitisation fraud by the banks. As one expert comments, this could be the smoking gun pointing to the biggest banking fraud in SA history.

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Mixed reaction to Budget speech

Posted 25 February 2015

The ANC government was generally slammed for a Budget that saw personal income tax rates for the first time in 20 years, while not nearly enough was being done to tackle government spending and crony capitalism, according to opposition MPs.

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