R60bn class action against banks lauded

THE R60 billion class action against the country’s major banks for repossessing people’s homes and selling them far below market value could be certified by the end of this year.

- ZELDA VENTER

Once the class action is certified, it is hoped the rulings will run much faster and the banks will pay the hundreds of claimants what they are due.

Advocate Douglas Shaw, who is representing the claimants, gave the assurance that he will do what he can to obtain compensation for those who have lost their homes.

Shaw said a team is in attempt to expedite the process, they are also launching a volunteer project for people to help with the administrative elements.

While he is trying to get the class action certified as soon as possible before the opposing big Cape Town Johannesburg, he may hurdles to overcome.

He explained that they must first face an objection by the banks regarding the structure of some of the affidavits cited by the claimants.

One of the technical argument is out of the way and there are no more hurdles, he will file his application and then await a date from the court about when it can be heard.