Western Cape High Court Judge Judith Cloete has denied Standard Bank on all five of its grounds to appeal an interim interdict against the closure of the Sekunjalo Group of companies’ bank accounts.
The application was dismissed with costs. She also ruled that the Sekunjalo Group, who have had judgments in favour and against the bank since she heard the case in 2023, “should be afforded the opportunity to place them, and their respective views on their implications, properly before the court at the next hearing”.
The 12-month interdict was handed down against Standard Bank in September last year, ordering it to refrain from closing the bank accounts, affecting the livelihoods of some 4 000 employees, until the finalisation of an Equality Court case in which Sekunjalo was challenging alleged unfair discrimination by banks in South Africa.
Judge Cloete also ruled that it was not in the interests of justice to grant the bank its appeal, since it “could have insisted on a much earlier date for this application to be heard”.
“Instead it waited for five months into a 12-month period.
“Second, it was only when I pointed out to its counsel during argument in reply that I could not dictate to the Supreme Court of Appeal when it should entertain the appeal if leave were to be granted that – suddenly – an undertaking was forthcoming from Standard Bank.
“This is unacceptable, and in any event counsel for Sekunjalo were deprived of any prior notice of this undertaking.” Reacting to the ruling, Sekunjalo Investment Holdings chairman Dr Iqbal Survé said: “The past few years have been a roller-coaster of legal rulings. However, we are all delighted and relieved that we can now continue to go about our business without the immediate spectre of having accounts closed. Our main case at the Equality Court is drawing nearer, where we will be able to argue and convincingly demonstrate the abject discrimination we have been subjected to by these banks, not just Standard Bank.”
Standard Bank said: “Standard Bank notes the decision of the Western Cape High Court regarding its application for leave to appeal. Standard Bank is reviewing the judgment but can confirm that the ruling does not relate to the merits of its decision to terminate the banking relationship with the Sekunjalo Group. We are reviewing the judgment and considering next steps.”
Cape Times