Banks ruling may set precedent for future – lawyer

THE Competition Tribunal’s ruling in the matter of the Sekunjalo Group vs the banks was a milestone as it might set a precedent to resolve future cases of a similar nature.

This was according to Godrich Gardee, head of law firm Gardee Godrich Attorneys, who said the ruling would vindicate his clients who had also laid complaints against several banks for unfair treatment.

The tribunal granted interim relief to Sekunjalo last week, preventing three major banks from closing accounts belonging to the group, and ordering banks that had closed accounts to reopen them.

Gardee, former EFF secretarygeneral and party MP, represents more than 6000 people in a class action suit challenging various banks on the basis of racial discrimination.

Although cases of a similar nature are treated on a case-by-case basis in court or tribunal, Gardee said the judgment gave him hope as it could assist him against the banks.

“Precedents are authorities that are persuasive to any other litigants before a court. So they would definitely impact similar cases that may be before the court and the tribunal later, so they will never be ignored.

“The (tribunal judgment) may not be wholeheartedly applicable in each and every case, but it will be a source of reference and authority and persuasive to the panellists in a tribunal.”