The first day of the highly charged court battle that has Finance Minister Pravin Gordhan pitted against the Gupta family over the closure of their Oakbay company and other accounts, had the High Court in Pretoria dispose swiftly of the extraneous politics to move on to the key legal issue: whether the government is permitted to intervene in matters between banks and clients. Gordhan approached the court in 2016 for a declaratory order stating that he could not intervene, after being pressured to do so by the Cabinet and Oakbay executives. His move was widely interpreted as an attempt to put an end to the lobbying and shine a light on the Guptas’ financial affairs. However, by the time of Tuesday’s hearing, all parties agreed that Gordhan did not have the power to intervene. The court, therefore, attempted to persuade the parties to reach a settlement. But Jeremy Gauntlett SC, for Gordhan, told the court although parties agreed the minister could not intervene, there was no agreemen...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.