South Africa Case Law

Trustco Group Holdings Limited v Financial Services Tribunal and Another (471/2023)

Trustco Group Holdings Limited v Financial Services Tribunal and Another (471/2023) [2024] ZASCA 100; 2024 (5) SA 394 (SCA) (19 June 2024)

Court

Supreme Court of Appeal

Case number

471/2023

Judges

Dambuza, Schippers, Weiner, Smith, Mbhele

The Supreme Court of Appeal upheld the JSE’s power to require restatement of financial statements and found no need for financial experts on a Tribunal panel.

• Statutory Interpretation
• Listing Requirements
• Restatement Of Financial Statements
• Panel Composition
• Administrative Action
• International Financial Reporting Standards

Lotter v Road Accident Fund Appeal Tribunal and Others

Lotter v Road Accident Fund Appeal Tribunal and Others [2023] ZAGPPHC 420; 4035/2019 (26 May 2023)

Court

North Gauteng High Court, Pretoria

Case number

4035/2019

Judge

Noko MV

The court found that the Appeal Tribunal's decision was based on irrelevant considerations, notably the reliance on an orthopaedic surgeon's report for psychological injuries. The panel was improperly constituted, lacking expertise in psychiatry, which was necessary given the nature of the applicant's injuries. The Tribunal failed to provide the applicant with a fair opportunity to challenge the panel's composition and did not allow for further assessment when the RAF 4 report was disputed. The process was tainted by bias, as the Tribunal appeared to favour the Road Accident Fund and did not…

Source excerpt

• Road Accident Fund Act
• Serious Injury Assessment
• Review Of Administrative Action
• Panel Composition
• Bias And Impartiality
• Condonation

Trustco Group Holdings Limited v Financial Services Tribunal and Another (5640/2022)

Trustco Group Holdings Limited v Financial Services Tribunal and Another (5640/2022) [2022] ZAGPPHC 853 (7 November 2022)

Court

North Gauteng High Court, Pretoria

Case number

5640/2022

Judge

Potterill

The court found that the Financial Services Tribunal panel was properly constituted in terms of the Financial Sector Regulation Act, which does not require a member with accounting expertise for every panel. The argument that the absence of such expertise rendered the process unfair was rejected, as the panel could rely on expert evidence presented by the parties. The JSE's directive to restate Trustco's financial statements was within its powers under the Listing Requirements and the Financial Markets Act, as restatement is necessary to correct non-compliance with IFRS and protect the public…

Source excerpt

• Financial Sector Regulation Act
• Panel Composition
• Jse Listing Requirements
• Business Judgment Rule
• International Financial Reporting Standards
• Procedural Fairness

Goodyear South Africa (Pty) Ltd v Competition Commission and Others (198/CAC/Jan22)

Goodyear South Africa (Pty) Ltd v Competition Commission and Others (198/CAC/Jan22) [2022] ZACAC 7; [2022] 2 CPLR 24 (CAC) (19 July 2022)

Court

Competition Appeal Court

Case number

198/CAC/Jan22

Judges

N. Manoim, S. Potterill, M. Kubushi

The Competition Appeal Court held that the directive excluding Goodyear's expert witness statement was final in effect, as the written directive did not indicate it would be reconsidered later. Applying the principles from Zweni, Metlika, and SCAW, the Court found that the directive was definitive of Goodyear's rights and had a final effect on its ability to present its case. Consequently, the directive was appealable under section 37(1)(b)(i) of the Competition Act. The Court further held that a single Tribunal member was not competent to make a final order of this nature under section 31(5)…

Source excerpt

• Admissibility Of Expert Evidence
• Final Vs Interlocutory Orders
• Panel Composition
• Section 37 Competition Act
• Section 31 Competition Act