Oakbay makes a concession in Gordhan’s court case over Gupta bank accounts

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Oakbay makes a concession in Gordhan’s court case over Gupta bank accounts

Genevieve Quintal | 2017-03-28 13:14:30.0

A logo of Oakbay Investments is seen at the entrance of their offices in Sandton, outside Johannesburg

A logo of Oakbay Investments is seen at the entrance of their offices in Sandton, outside Johannesburg, South Africa April 13, 2016.

Image by: SIPHIWE SIBEKO
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REUTERS

Oakbay Investments has backed down from allegations that finance minister Pravin Gordhan conspired with banks to close the company’s bank accounts.

The company’s advocate‚ Cedric Puckrin‚ told the High Court in Pretoria on Tuesday that his client conceded that some arguments made by them were not relevant to the matter.

Gordhan had asked the court to strike out the accusation that there was a conspiracy to the close the accounts. Oakbay has agreed.

Oakbay‚ however‚ still wants the Financial Intelligence Centre certificate attached to Gordhan’s founding affidavit struck out‚ claiming it also had no relevance to the matter.

The FIC certificate details 72 “suspicious transactions”.

Jeremy Gauntlett for Gordhan argued that the FIC certificate highlighted the seriousness of the matter.

Following the court’s tea break on Tuesday‚ Matthew Chaskalson for President Jacob Zuma asked to be excused from the case.

This was after the court earlier dismissed an application by Zuma to be added as an interested party.



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