Lungelo Lethu Foundation welcomes judgment against banks
The foundation is readying a class action suit against the four big banks for 'the unlawful evictions of thousands of South Africans from their homes'.
Lungelo Lethu Human Rights Foundation’s King Sibiya has welcomed a judgment by the High Court in Pretoria yesterday as “historical and groundbreaking” after struggling with their own legal battles against banks since 2014.
Sibiya said the banks’ habit of selling properties for less than their market price was what drove them to the Rules Board for Courts of Law in 2014, to demand an amendment to the law that allowed it to happen.
He said they felt banks abusing their power was a national crisis and unconstitutional and many people were struggling because of it.
The organisation won their case last month regarding the sale of homes without reserve, and say the latest development is another step in the right direction.
“The organisation is more than happy about this judgment that we have fought for.
“It will save not only our [black] people but all South Africans, including whites.
“It will also assist lawyers to argue better under the eyes of the law. The banks were getting away with murder for too long but now the number of victims will be minimised,” said Sibiya.
The foundation is now preparing a class action suit against the four major banks for what it says are the unlawful evictions of thousands of South Africans from their homes.
The Banking Association of South Africa could not be reached for comment at the time of going to press.
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