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ECONOMY

The IMF adjusted the global economic growth forecast for the 3rd time this year to 3.3%. It warns of weaker growth in the Euro zone, Japan and Brazil.
Our revised growth outlook for the year is predicted at 1.4%.
There is one ray of hope though: the BankservAfrica index shows an increased spending which might herald a return to growth locally.

Spending one

BUSINESS

FirstRand is currently the leading bank in terms of market capitalisation and earnings. Standard bank is the largest bank in Africa by assets and has the largest mortgage book in South Africa. At present FirstRand is the

PROPERTY

Lies, damn lies and statistics: it was reported in this week that offshore property appears a better bet than local property. In support of this, the writer says that global property stocks have delivered a total return of 19% in Rand terms and 10% in dollar terms, for the year to date. That is compared with South African property stocks

PRACTICE

By now most attorneys would have seen the judgement in the Royal Anthem matter in which a conveyancer had been ordered to pay penalty interest over and above the interest that he had received as he had held on to funds that were due to be re-payable to a purchaser. Importantly, the conveyancer was never before court. On appeal, the Constitutional Court held that he had not been afforded the opportunity to be heard and struck the order down.
CCT 63/14

CASES AND SUCH

The derivative action

A derivative action is a right of a minority shareholder to pursue litigation on behalf of a company, when those in control of that company, improperly refuse or fail to do so. A judicial discretion is built into this action. If this interests you, I have an excellent article on the subject which I would be happy to scan through to you. Note that it comprises about 25 pages.

Unlawful arrest and malicious prosecution

Where police were aware that no evidence was available upon which a claimant could be successfully prosecuted, failed to inform the prosecutor and the claimant was refused bail, the Minister of Safety and Security was liable to compensate the claimant for the full period of his detention. (I remind you that TMJ has a department dedicated to such cases)
Tyokwana SCA case 827/13

Legal practitioner having confidential information about a former client

It is trite law that a former client is afforded protection against a legal practitioner where the practitioner has confidential information about the former client that may be misused. In this case, the appellants were never clients of the attorneys concerned. They argued that they were quasi

QUOTABLES

WEIRD & WONDERFUL

The ever lovable Mr Kevin Peterson:

LIGHTEN UP

A streaker runs through a golf club with a towel covering his face past three ladies sitting in the lounge.