Court finds no urgency in AYO Technology application against

Court finds no urgency in AYO Technology application against FNB


Court finds no urgency in AYO Technology application against FNB
By Edward West
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AYO Technology Solutions’ application in the Johannesburg High Court to contest FNB’s recent notice to suspend the firm’s banking facilities would not be heard on an urgent basis, the court ruled yesterday.
FNB had on March 2 said it intended to stop providing banking services to AYO from May 3, because of alleged reputational damage to the bank.
FNB had claimed that an investment transaction between AYO and the Public Investment Corporation, negative media coverage, AYO’s evidence at the Mpati Commission and a R6.5m fine that the JSE imposed on AYO, where it retains its listing, were factors driving the alleged reputational damage to the bank.

Related Keywords

Johannesburg , Gauteng , South Africa , Gregory Wright , Nazeer Cassiem , Johannesburg High Court , Public Investment Corporation , Ayo Technology Solution , Mpati Commission , ஜோகன்னஸ்பர்க் , கௌஊட்டெங் , கிரெகொரி ரைட் , ஜோகன்னஸ்பர்க் உயர் நீதிமன்றம் , பொது முதலீடு நிறுவனம் , அயோ தொழில்நுட்பம் தீர்வு ,

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