| Standard Bank has done nothing wrong in closing the bank accounts of international businessman John Bredenkamp due to his alleged links with Zimbabwe, the Supreme Court of Appeal has held. A report in The Citizen notes that Judge Louis Harms, in a unanimous judgment by five appeal judges, dismissed an appeal by Bredenkamp and three entities belonging to him, against a High Court judgment. Bredenkamp and the three had sought an order preventing Standard Bank from closing their accounts. The bank’s decision in 2008 came after the US Department of Treasury’s Office of Foreign Assets Control listed Bredenkamp and the entities as ‘special designated nationals’, because of their supposed links with the Zimbabwean Government. Harms said the termination did not offend any identifiable constitutional value and was not otherwise contrary to any other public policy consideration. Full report in The Citizen |
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