Pay up, judge tells Standard Chartered and African Banking
Court refuses banks leave to appeal against its earlier decision that the two lenders colluded
17 March 2024 - 15:22
British-multinational lender Standard Chartered (StanChart) and African Banking Corporation (ABC) are running out of legal options in bid to avoid paying an SA investor nearly R1bn over the collapse of then JSE-listed Blue Financial Services in 2013.
This is after the high court in Johannesburg last week refused the banks leave to appeal against its earlier decision that the two lenders colluded to breach a debt-restructuring agreement that sank Blue Financial Services more than a decade ago...
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