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Former client wins a 'significant' court victory against insurance company


Former client wins a ’significant’ court victory against insurance company
By Mervyn Naidoo
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Durban - The latest episode in the legal battle between a businessman and the insurance company that repudiated his more than R2 million disability claim of 2011, has gone the way of the client.
The main event, the trial, where Ravichandren Reggie Dhurgasamy will attempt to prove his permanent disability claim with Discovery Life Limited was a valid one, is next on the cards.
Recently, Discovery’s application to have Dhurgasamy’s disability claim dismissed because of its validity was overruled at the Durban High Court.
Judge Mahendra Chetty made the ruling, with legal costs also awarded in Dhurgasamy’s favour. ....

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S.Africa's central bank imposes sanctions on Deutsche Bank's local branch


By Reuters Staff
1 Min Read
The headquarters of Germany s Deutsche Bank are pictured in Frankfurt, Germany, September 21, 2020. REUTERS/Ralph Orlowski/File Photo
JOHANNESBURG (Reuters) - South Africa’s Reserve Bank (SARB) said on Thursday it had imposed administrative sanctions on Deutsche Bank’s Johannesburg arm after finding weaknesses in its money laundering control measures.
The country’s central bank said it had found the weaknesses in Deutsche’s branch following an inspection conducted in 2019.
A penalty of 28 million rand ($1.91 million) has been imposed on Deutsche Bank, SARB said.
It imposed another sanction for a similar reason on life insurer Discovery Life Limited with a penalty of 500,000 rand. ....

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