Stewart and Another v Prinsloo and Others (1431/2011, 1430/2011, 1824/2011, 2196/2011) [2012] ZAECPEHC 30 (15 May 2012)
Court
Eastern Cape High Court, Port Elizabeth
Case number
1431/2011, 1430/2011, 1824/2011, 2196/2011
Judge
Revelas
After settlement of an insolvency action arising from an illegal investment scheme, the High Court ordered each party to pay its own costs and allowed expert witness fees.
King and Others v The Attorneys Fidelity Fund Board of Control (137/2008) [2009] ZASCA 44; 2010 (4) SA 185 (SCA) (12 May 2009)
Court
Supreme Court of Appeal
Case number
137/2008
Judges
MPATI, Brand, Cachalia, Mhlantla, Bosielo
The Supreme Court of Appeal held that the plaintiffs' claims are excluded by section 47(1)(g) of the Attorneys Act. The evidence showed that the moneys paid into Van Schalkwyks' trust account were intended to be invested in a factoring scheme operated by a third party, with the expectation of earning a profit. The acknowledgements of debt issued by Van Schalkwyks explicitly authorised investment of the capital on behalf of the creditor in the factoring scheme. The court found that each payment into the trust account amounted to an instruction to invest the money, thereby triggering the statut…
