Securitisation case to go forward

NEWERA CASE UPDATE:

The Judge in the NewERA securitisation case has granted NewERA leave to amend their papers. This will then allow their court case to continue.

NewERA will now re-file amended documents. NewERA say that with these in place it is hoped that ‘the banks will finally be required to answer their allegations’.

But it will cost

While NewERA see this as a victory a cost order (although limited) was granted against them. Since the banks legal teams are so expensive these costs are not to be sneezed at. NewERA are likely to appeal against the costs order.

To learn more about NewERA’s court case head over to: http://www.newera.org.za/  or their Facebook page: http://www.facebook.com/NewEconomicRightsAlliance