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President Zuma Teams Up With Court To File Motion Against Bank

jacob Zuma speaking
Zuma

President Jacob Zuma on Monday joined court proceedings as an interested party in the North Gauteng High Court matter between Oakbay Investments and Finance Minister Pravin Gordhan.P

This follows Zuma’s announcement on Monday that he had cancelled Treasury’s investor roadshow to the UK and US and ordered Gordhan to return home.

When Gordhan sought a declaratory order to protect the Treasury’s executive from having to intervene in the closure of the Guptas’ bank account by the country’s top four banks, he added the banks to his founding papers.

Zuma’s court intervention, which is being tackled by the state attorney, is with regards to Standard Bank’s extended declaratory order against Zuma and all members of the Cabinet, which it included in its responding affidavit.

The state attorney said Zuma was added to Standard Bank’s responding affidavit “in circumstances where the president and no members of the Cabinet other than the minister of finance are parties to the proceedings”.

“The president …seeks a striking from the roll, with costs, of Standard Bank’s application for the relief … which it styles as a notice of motion.”

In its papers filed on 13 December 2016, Standard Bank asked the court to prevent Zuma and any of his ministers from intervening in its decision to close company accounts associated with Oakbay.

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Written by How South Africa

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