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R60-billion headache for biggest banks in South Africa
Hundreds of South Africans are waiting for the outcome of a R60 billion class lawsuit against South Africa’s major banks, alleging that they unlawfully repossessed their homes and resold them for well below market value.
This lawsuit, which Adv Douglas J Shaw heads up, is seeking to help individuals who have lost their homes to banks such as Absa, Standard Bank, FirstRand, and Nedbank.