|
JDG
JDG
JDG - JD Group Limited - Media Release
JD Group Limited
(Incorporated in the Republic of South Africa)
(Registration Number: 1981/009108/06)
JSE code: JDG
ISIN: ZAE000030771
MEDIA RELEASE
1. SENS Release
This statement is released in answer to the media speculation from time to
time regarding the subject matter of the undermentioned case.
2. Background
2.1 In and during October 2005, an application was launched by one Linda
Elliston ("Elliston") to the High Court of South Africa (Transvaal
Provincial Division) under Section 18A of the Usury Act, No 73 of 1968
("the Usury Act") in terms whereof Elliston sought an opinion from the
Court that a transaction concluded between Joshua Doore and herself was a
credit transaction in terms of the Credit Agreements Act, No 75 of 1980 and
not a loan transaction which was exempted from the provisions of the Usury
Act.
2.2 It was fundamental to such application that the facts giving rise to the
application had to have been agreed upon between the parties. Such was not
the case, either between Elliston and the Registrar of the Usury Act ("the
Registrar") on the one hand or between Elliston and Joshua Doore on the
other.
2.3 The application was accordingly opposed by both the Registrar and JDG
Trading (Pty) Limited, inter alia, trading as Joshua Doore ("Joshua
Doore").
2.4 The application was heard on the 22 June 2006 and judgment was reserved.
3. Judgment
Mr Justice Webster this day granted an order in terms whereof:-
3.1 he declined to render an opinion in terms of the aforesaid section of the
Usury Act - he held that no question of law had arisen between Elliston and
the Registrar and further held that there were no agreed facts. Based
thereupon he held that it was not competent for the Court to issue an
opinion;
3.2 Elliston was ordered to pay costs of Joshua Doore; and
3.3 no order was granted regarding the Registrar`s costs - the Judge held that
the Registrar should have answered a particular letter from Elliston which
he had omitted to do. The Registrar had contended that such answer was not
necessary as he had already ruled that the transaction in question was
lawful.
Enquiries:
David Sussman
Tel: (011) 408-0202
28 November 2007
Sponsor
PSG Capital (Proprietary) Limited
Date: 28/11/2007 16:57:07 Produced by the JSE SENS Department.
The SENS service is an information dissemination service administered by the
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or
implicitly, represent, warrant or in any way guarantee the truth, accuracy or
completeness of the information published on SENS. The JSE, their officers,
employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature,
howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
| Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information. | |||||||||||||
| Other Profile Group sites: FundsData Online (unit trust data) | Profile Group corporate site | |||||||||||||
| [ Terms of Use | Privacy Policy | PAIA manual | FAQs/Help | Site Map | © Copyright Reserved 2026 ] | |||||||||||||
|
|||||||||||||
