Ownership of funds deposited into the customer’s account

In Trustees, Estate Whitehead (“Whitehead”) v Dumas and Another (“Dumas”) 2013 (3) SA 331 (SCA) Whitehead conducted an investment scheme.
A few days after Dumas invested R 3 million in the scheme – depositing money into Whitehead’s banking account – Dumas established that the scheme was an unlawful pyramid scheme. Dumas then sought the return of his money from Whitehead’s bank, Absa Bank (“Absa”), where the funds were credited.

The court held that:

“I have successfully used Shaun in commercial arbitration, corporate/commercial law matters and in the arena of insolvency law, in all of which he is well accomplished.”
- Grant Davidson [businessman for three decades]

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– Tinus Neethling [managing director of Rorotika Technologies]

“Shaun is imaginative, hardworking, accommodating and honest – Shaun acted for Pirelli Tyres before, while and after I was the managing director of the company, dealing with all legal matters, including the drafting and enforcement of various types of contracts and other litigious matters.”
- Ashley Cooper [former managing director of Pirelli Tyres]

“Shaun’s service is efficient, honest and of the highest professional standard – Shaun acted for the construction companies of which I was the financial director/officer, dealing with all legal matters related to the construction industry, including litigation and the drafting and enforcement of construction related contracts and negotiations.”
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“Shaun Nel’s  services were consistently of the highest ethical & professional standards I experienced in my near four decade banking career – Shaun having acted for the bank in enforcing
lending agreements, drafting bank related agreements and giving guidance on various aspects involving banking.”
- William King Powell [retired Standard Bank manager]

Latest News

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Set-off of money in bank account

The facts in Standard Bank of South Africamoo

Sole trustee and beneficiary

The court in Groeschke v Trustee, Groeschke Familymoo

Contact

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Phone: +27 87 095 3406
Cell: +27 83 414 6581
Email: shaun.nel@shaunnel.co.za