Huge sigh of relief for Ithala clients, staff following high court ruling

Huge sigh of relief for Ithala clients, staff following high court ruling

Some of the 223,166 of Ithala Bank’s clients could soon access their money, which is currently trapped in the historic KwaZulu-Natal bank.

Court slaps Ithala for ignoring warnings, upholds repayment administrator’s authority – Moonstone Information Refinery

Ithala was handed its hat in the High Court this week, receiving a sharp rebuke for ignoring warnings it had known about for years. In a 15 August ruling, the High Court in Pietermaritzburg upheld an appeal by the South African Reserve Bank, the Prudential Authority (PA), and Repayment Administrator (RA) Johannes Kruger, setting aside the May execution order for Ithala SOC Limited. Deputy Judge President Zaba Nkosi, Judge Garth Harrison, and Jud…