Steve Chemaly

In February 2024, the Supreme Court of Appeal, in Lindsey v Conteh, considered the enforceability of foreign judgments in South Africa. The appellants sought to enforce two writs, one for possession of shares and one for execution of the monetary value of to the shares, granted by the Superior Court of California, through provisional sentence summons in South Africa. The issue was whether the procedure followed to enforce the judgment was appropriate.

This blog was authored by Rory Scott, Candidate Attorney. In recent years, financial markets globally have been implementing the reform of reference interest rates to Risk-free Reference Rates (RFRs). South Africa, following suit, is progressing towards replacing the Johannesburg Interbank Average Rate (JIBAR) with the preferred successor rate of the Market Practitioners Group’s (MPG), most likely being the South African Overnight Index Average (ZARONIA).