Public Protector report on ABSA bailout set aside
The Public Protector's Bankorp-CIEX report, where ABSA was ordered to pay R1.125-billion, was set aside on Friday by the Pretoria High Court.
The case had seen Public Protector Busisiwe Mkhwebane and the South African Reserve Bank (SARB) face off in court.
In a devastating ruling to the protector the court set aside her report and awarded costs to ABSA.
The Bankorp-CIEX matter was heard at the North Gauteng High Court in December over three days before a full bench of judges including Judge Cynthia Pretorius, Judge Nomonde Mngqibisa-Thusi and Judge Dawie Fourie.
It relates to the report Mkhwebane released in June, where her findings called for ABSA to repay R1.125-billion for a lifeboat provided to Bankorp by the Reserve Bank during the apartheid era. Both the SARB and ABSA had filed court applications to have the court review the report and set it aside. The SARB particularly sought a declaratory order that Mkhwebane abused her powers.
During the court proceedings Gilbert Marcus SC for ABSA, argued that Mkhwebane’s failed to adhere to procedural fairness. Mkhwebane had refused ABSA’s request meet with her prior to the publication of the final report. He also said that she met with Black First Land First (BLF), which was a strong opponent of ABSA and took the stance that ABSA should repay the debt.
In return Mkhwebane’s lawyer Paul Kennedy SC had argued that if the court granted the declaratory order it would prepare the ground for the Public Protector to lose her job.
“The court is being used to prepare the ground for the removal of the person who occupies the office of the Public Protector,” Kennedy said. He appealed to the court not to be part of the strategy or approach of the SARB.
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