Can Deloitte weasel out of this one?

Posted 12 September 2014

An inquiry into the demise of African Bank is likely to turn some stones and reveal some worms. The last major inquiry into a banking collapse involved Regal, by the same Advocate John Myburgh who has been asked to look into African Bank. His brief is to investigate reckless behaviour, possible fraud and negligence.

Read More »

Fraud accusations fly over Nedbank liquidation of guest lodge

Posted 12 September 2014

A Johannesburg guest lodge was liquidated by Nedbank this week despite accusations of fraud and perjury. Why would the bank shut down a lodge over a R62,000 debt when its lawyers fees would be more than this? We decided to take a look.

Read More »

Oberholsters attacked again at their home

Posted 05 September 2014

Deon Oberholster - whose wife is fighting her sequestration in the Constitutional Court - was attacked at his home on Wednesday evening by a thug who warned them against pursuing an interdict application to stop the liquidators from coming near their property.

Read More »

Sasfin to be hit with R30m damages claim after closing down Joburg man's business

Posted 28 August 2014

Joburg man Damon Greville is claiming R30,5 million in damages from Sasfin after the bank shut down his business in 2011 and then attempted to foreclose on his house. Earlier this year Greville successfully defended the bank's attempt to foreclose on his house, claiming his debt to the bank is already discharged and the bank in fact owes him.

Read More »

Brakspear trial showcases a broken judicial system

Posted 28 August 2014

Ian Brakspear's trial came to a close last week in the Durban High Court. There were accusations of a forged court order that was used to liquidate his company, West Dunes, and lengthy argument on whether the case was actually heard by a judge. Points were scored by both sides, but overall, it was a shocking display of South African justice at work.

Read More »

Standard Bank denies reckless lending scheme in court

Posted 20 August 2014

Standard Bank has denied allegations of reckless lending to companies involved in so-called "reverse mortgage schemes." Borrowers using this system found they had to pay back up to six times the loan amount, and had title of their houses transferred to the credit provider.

Read More »

Class action suits make a debut in SA

Posted 11 August 2014

Class action suits are a rarity in SA, but that appears to be changing. Two recent class action suits - one involving the so-called "Satinsky R699 a month car scheme" and another being brought by Transnet pensioners against their pension fund - have changed the litigation landscape.

Read More »

State looks at changes to labour laws to curb strikes and violence

Posted 07 August 2014

The government is contemplating new laws to curb lengthy and violent strikes that are blamed for lowering SA's investment status and pushing the country into recession. 

Read More »

Smack down for Absa in Joburg High Court

Posted 04 August 2014

Absa bank was handed a stunning defeat in the South Gauteng High Court last week when it attempted to obtain summary judgment against two home owners. The judge argued that Absa's failure to produce the original loan agreements - which the bank says was destroyed in a fire - meant the matter has to go to trial.

Read More »

Mocking Putin over downed Malaysian airliner is folly

Posted 28 July 2014

The downing of a Malaysian airliner over Ukraine has been seized by foreign policy opportunists as an excuse to pin the blame on Russia's President Putin, when all the evidence suggests this was a ghastly accident, writes Simon Jenkins in The Guardian.

Read More »

US economy recovers faster due to kinder bankruptcy laws

Posted 24 July 2014

The US pulled out of recession more rapidly than Europe due in part to improved consumer spending. This in turn was due in no small part to more kinder bankruptcy rules, such as no-recourse mortgages in some states and the ability of insolvents to get back on their feet within months rather than years. 

Read More »

One of SA's richest men subpoenaed in Brakspear trial

Posted 22 July 2014

Ian Brakspear of Durban has subpeonaed one of SA's richest men, Johann Rupert, to testify at his upcoming trial in the Durban High Court in August. He says Rupert came to acquire Brakspear's Cape wine farm following a fradulent liquidation of of his business.

Read More »

Cape farmer launches R10 million damages suit against liquidators after home invasion

Posted 17 July 2014

Cape farmer Yvonne Oberholster's home was invaded yesterday morning by the sheriff of Somerset West and agents of KPMG Services, despite her application to the Constitutional Court for leave to appeal against her sequestration as she was under debt review at the time. Now she is suing the liquidators for R10 million.

Read More »

Solidarity warns Telkom to abandon race as a criterion for retrenchment

Posted 14 July 2014

Solidarity LogoTrade union Solidarity is bringing an urgent interdict application against Telkom to halt what is says is a race-based retrenchment drive that will prejudice minorities working for the company. Telkom has announced a retrenchment drive in an effort to save R5 billion in costs over five years.

Read More »

Pretoria man goes from millionaire to sleeping in his car in 3 easy steps

Posted 09 July 2014

Jonn Basson is a few days away from being tossed out of his small farm outside Pretoria, He will then likely end up sleeping in his car. He went from millionaire to zero in three easy steps. This is how it happened...

Read More »

Court sets rules for SARS audits

Posted 07 July 2014

A recent judgment by the Supreme Court of Appeals sets out rules for a SARS audit. This is based on a case dating back more than a decade when SARS was found to have overreached itself in dealing with a taxpayer.

Read More »

Spreading panic about non-existent threats

Posted 04 July 2014

The list of catastrophic events confronting us seems to grow by the day. Bird flu, Islamic terrorists, Y2K, killer fruit juice. No-one seems to call the fear-mongers propagating these scare stories to account for their miserable track record in predicting the end times, according to Simon Jenkins in the Guardian.

Read More »

Court reject's Vodacom's "Please Call Me" evidence

Posted 02 July 2014

The High Court in Johannesburg has rejected the claim by former Vodacom CEO Alan Knott-Craig that he was the inventor of the company's "Please Call Me" service. But the court also threw out - on technical grounds - a counter claim by former employee Nkosana Makate that he was the inventor.

Read More »

Brakspear wins crucial skirmish in Durban

Posted 26 June 2014

Ian Brakspear won a crucial skirmish in the Durban High Court yesterday when the Judge President set down his case for August and offered to bring in a judge from outside the province. Brakspear claims he was liquidated on the basis of a forgery and a fictitious R7 million loan.

Read More »

Road agency to appear in court over fine collections

Posted 24 June 2014

The Road Traffic Infringement Agency is being hauled before the court because it is alleged to have failed to follow the correct procedure in claiming road fines. Without receipt of a registered letter, the agency cannot enforce a fine, according to Fines 4U, which is bringing the action.

Read More »

Minister floats plan for farmers to hand over half their farms to workers

Posted 23 June 2014

Rural Development and Land Reform Minister Gugile Nkwinti has published a plan for farmers to hand over half their farms to workers. The plan, which the minister says is an effort to "de-racialise" the land issue in SA, has been roundly slammed by agricultural groups.

Read More »

Police to open criminal complaint against attorney involved in Brakspear liquidation

Posted 17 June 2014

The family of Ian Brakspear are filing a criminal complaint with the Hawks against one of the ENS attorneys accused of involvement in a fraudulent liquidation of the family business in 2008. Meanwhile, the Brakspear case is due to be heard before the Durban High Court in August.

Read More »

Constitutional Court orders transfer of property to woman who paid more than half the purchase price

Posted 10 June 2014

The Constitutional Court has ruled in favour of a woman who was to be evicted from her property after falling behind on her payments. The Court ruled that in terms of the Alienation of Land Act, she was entitled to have the property transferred into her name as she had paid more than half the purchase price.

Read More »

SA Human Rights Commission investigates evictions in Western Cape

Posted 09 June 2014

The SA Human Rights Commission is investigating the eviction of several hundred families from Lwandle in the Western Cape. The commission says it is concerned about the manner of the evictions and the delay in providing alternative shelter.

Read More »

Unimaginable evil: the US plans for nuclear first strike on Russia and China

Posted 05 June 2014

This is a sociopath's wet dream: US plans for a nuclear first strike on Russia and China. What's more, the US thinks it can down any retaliatory missiles and so survive retribution for raining death down on its perceived enemies in the East. Paul Craig Roberts spills the dirt...

Read More »

The views expressed herein are those of the author and do not necessarily reflect those of Acts Online. Acts Online accepts no responsibility for the accuracy, completeness or fairness of the article, nor does the information contained herein constitute advice, legal or otherwise.