South Africa Case Law

Symons N.O and Another v Rob Roy Investments CC t/a Assetsure (4827/2013)

Symons N.O and Another v Rob Roy Investments CC t/a Assetsure (4827/2013) [2018] ZAKZPHC 71; 2019 (4) SA 112 (KZP) (10 December 2018)

Court

Kwazulu-Natal High Court, Pietermaritzburg

Case number

4827/2013

Judge

Ploos van Amstel

The court found that the plaintiffs, as sophisticated investors, were provided with all relevant documentation and risk warnings regarding the Sharemax investment. There was no evidence that the defendant misrepresented the investment as low risk or guaranteed, nor that he failed to exercise the requisite skill and diligence. The collapse of the Sharemax scheme was caused by the intervention of the Reserve Bank, an event not foreseeable by the defendant and not causally linked to any alleged breach. Even if there was a failure to explain certain risks, such failure was not the legal cause of…

Source excerpt

• Professional Negligence
• Financial Advice
• Causation
• Contractual Duties
• Property Syndication

Clifton Dunes Investments 100 Limited and Another v City Capital SA Property Holdings Limited (169/14)

Clifton Dunes Investments 100 Limited and Another v City Capital SA Property Holdings Limited (169/14) [2015] ZASCA 12 (16 March 2015)

Court

Supreme Court of Appeal

Case number

169/14

Judges

Lewis, Maya, Majiedt, Pillay, Zondi

SCA upheld a finding that the loan to the property company was R20 321 248, not R25 million, and dismissed the appeal with costs.

• Property Syndication
• Loan Determination
• Shareholder Rights
• Audited Financial Statements
• Purchase Consideration
• Adducing Further Evidence On Appeal