On 28 March 2024, the Financial Sector Conduct Authority (FSCA) launched the second phase of the Trustee Training Toolkit (TTK) which comprises of the last eleven modules of the e-learning platform. Conduct Standard 4 of 2020 (CS4) compels all trustees
Financial Institutions Legal Snapshot
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Protection of confidential information in litigation
As a general rule, court proceedings and the related documents are open to the public. There is an important reason for that: justice must not only be done, it must be seen to be done. But what if that would…
The Importance of Authority in Executing Instructions
Attorneys are creatures of their client’s instructions. If attorneys overstep or fail to follow their client’s instructions, it may lead to significant consequences. The Constitutional Court has re-affirmed that if an attorney acts contrary to the express instructions of their…
The importance of the timing of a termination notice
It is common practice between retailers and wholesalers of petroleum products to continue their lease agreements on a month-to-month basis when the original agreement terminates through the lapse of the contract period. Monthly leases can be terminated on the agreed…
Lloyd’s 2.0 Metallica 0.0 for Covid-19 concert cancellation claim
On 18 March 2024 the California appellate court dismissed an appeal by Frantic Inc, professionally known as heavy metal band Metallica, claiming losses under a Cancellation, Abandonment and Non-Appearance Insurance policy because it was subject to a Communicable Disease exclusion excluding…
US jury finds insurer liable for crash by deployed tow truck
In mid-March 2024 a Kentucky state jury found liability of $164 million against an insurance company which had sent out a tow truck on a roadside assistance job which rear-ended a motorist leaving her quadriplegic. In the end of the jury…
Economic Duress alone does not vitiate a settlement agreement
This Gauteng judgment Trident South Africa (Pty) Ltd / Bateman Trident (Pty) Ltd v Shainne John Taylore & 2 Others has reaffirmed that economic pressure does not in itself create a basis to escape a settlement agreement on the grounds…
The proof is not in the pleadings – parties may not rely on an Anton Piller order to construct a cause of action
An Anton Piller order allows a prospective litigant to instruct the sheriff of the court to search a property and seize specific documentary evidence when a “real and well-founded apprehension” exists that such evidence will be hidden or destroyed before…
Medical expenses paid by medical aid are not deductible from damages
In this February 2024 judgment, the Pretoria High Court rejected the Road Accident Fund’s argument that it is not liable for medical scheme members’ past medical expenses paid by the injured person’s medical scheme following a motor vehicle accident.…
Voetstoots clauses cannot be fixed with a fresh coat of paint
The judgment on 28 February 2024 in Gortzen and Another v Moolman upheld a claim for damages for undisclosed defects brought by the buyer of a property against the sellers. The undisclosed defects related to damp in the internal and…