Banks exceptions to Commission's complaint to be heard under themes - January 2018

Banks exceptions in the forex cartel case to be heard under themes – set down for three days in January 2018

The Competition Tribunal has ordered that all the exceptions by the banks in the CC vs Bank of America and others case will be heard thematically over three days from 24 to 26 January 2018, rather than hearing exceptions separately by each bank.

The hearing has been confined to so called “pure exceptions” i.e. those based on the referral as supplemented. They can only deal with exceptions to the referral as it stands now. No new facts can be produced by the respondents.

The hearing will be divided according to the following themes:

(1)   Jurisdiction

(2)   The failure to plead material facts or which others have characterised as failure to sustain a cause of action.

  • NOTE: See attachments for full order

The Standard Bank application for access to the record was heard Monday, 18 September 2017. An order has yet to be issued.

Link to bank exceptions: http://www.comptrib.co.za/publications/case-documents/competition-commission-complaint-against-banks/

 

Issued by:

Chantelle Benjamin

Communications: Competition Tribunal

Tel (012)394 1383

Cell: +27 (0) 73 007 5603

Twitter: @comptrib

E-Mail: chantelleb@comptrib.co.za

 

On Behalf Of:

Lerato Motaung

Registrar: Competition Tribunal

Tel: (012) 394 3355

Cell: +27 (0) 82 556 3221

E-Mail: LeratoM@comptrib.co.za