Mkhwebane to study Bankorp-CIEX court ruling

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The Office of the Public Protector has expressed shock over Friday’s court judgment against its Bankorp-CIEX report which found that the public was prejudiced by government and the Reserve Banks failure to recover the R3.2 billion from Bankorp Limited-ABSA.

The High Court in Pretoria set aside the remedial action she recommended in the report and ordered Busisiwe Mkhwebane to pay 85-percent of the Reserve Bank’s costs in her official capacity and 15-percent in her personal capacity.

The Public Protector had concluded that the SA government and the SA Reserve Bank “did not protect the interest of the public” in what she said was an “irregular and unlawful ‘lifeboat’ granted to Bankorp Ltd/ABSA Bank”.

In a scathing judgment setting aside the ruling, three judges found that Mkhwebane “did not conduct herself in a manner which should be expected from a person occupying the office of a Public Protector”.

In a statement the office says Mkhwebane is currently studying the judgment in order to determine the appropriate action to be taken.