Royal Bafokeng Nation and Others v Absa Bank Ltd and Others (38843/12)
Royal Bafokeng Nation and Others v Absa Bank Ltd and Others (38843/12) [2013] ZAGPJHC 82 (22 February 2013)
The application was dismissed because the applicants failed to establish a clear right, title and interest in the funds held under Sanlam Investment Company 5096410. The funds were not sufficiently earmarked as belonging to the applicants, and the cession by the attorneys to the first respondent was valid and effective against the world, including the first respondent. Even if the cession was invalid, the first respondent would have a common law right to retain the funds until any prejudice was cured. The first respondent acted bona fide and was not put on enquiry regarding the legitimacy of…
Source excerpt
- Quasi Vindicatory Claim
- Cession In Securitatem Debiti
- Attorneys Trust Accounts
- Earmarking Of Funds
- Common Law Right Of Retention