One thing we know: when it is all over, those of us who survive will find some form of meaning in it, writes Melanie Verwoerd.
The Supreme Court of Appeal has dismissed an appeal by the National Credit Regulator in a drawn-out legal battle against major furniture retailer Lewis Group.
The National Credit Act does not prevent credit providers from offering the services of a club to consumers, provided these services are not part of the “cost of credit”.
Lewis Group has posted its final audited results for the year ended March 31 2017 and reported a gross margin of 41.6% and headline earnings per share of 400.1 cents.
David Woollam of consumer watchdog Summit Financial Partners says his name has been cleared by the FSB regarding allegations of insider trading by Lewis Stores.
Lewis Group stocks have been the biggest loser among its peers with the share price down 3% after subsidiary Lewis Stores had been found in breach of the National Credit Act.
Lewis Group has advised that Global Credit Ratings has affirmed the group's credit ratings and outlook.
Lewis Group has launched court proceedings to set aside a demand by a shareholder to declare some of the company’s directors delinquent.
Lewis Group has completed the acquisition of a portfolio of 57 Ellerines and Bears stores in four southern African countries.
Lewis Group has received regulatory and competition approvals for the acquisition of Ellerines and Beares stores in Botswana and Lesotho.
The facts of the case in the washing machine row do not support the accusation of reckless lending, says Lewis Group.
Lewis Group has continued its recovery in the financial year to March 2018 with stronger merchandise sales, tight expense control and lower debtor costs.
Lewis Stores has acquired the entire share capital and all shareholders’ claims against United Furniture Outlets for R320m in cash plus any applicable interest.
Lewis Stores will appeal a judgment by the National Consumer Tribunal relating to a matter of The National Credit Regulator, Lewis and Monarch Insurance.
The tough ruling against Lewis Stores is a clear warning that illegal practices in the credit industry will not be tolerated, says Debt Rescue CEO Neil Roets.
Lewis Stores is guilty of infringing the National Credit Act, relating to credit insurance and disability cover sold to pensioners and self-employed consumers.
The plot thickens in a high court case by Lewis directors, defending charges of being delinquent in the way customer accounts are handled.
The National Credit Regulator has referred Lewis’ operating subsidiary, Lewis Stores, to the National Consumer Tribunal for alleged breach of the National Credit Act.
Consumer watchdog Summit Financial Partners is taking Lewis Group to the Cape High Court for what it alleges to be unfair practices.
Lewis Group is launching a specialised call centre to limit any potential misunderstandings of the costs, services and fees to be paid by customers.
Lewis Group says sales have been significantly impacted by the implementation of the National Credit Regulator's affordability assessment regulations.
Western CapePlacement Point (Pty) Ltd
Cape TownTumaini ConsultingR720 000.00 - R960 000.00 Per Year
Cape TownForever New South AfricaR6 000.00 - R7 000.00 Per Month
R 5 750 000
R 6 950 000
R 3 700 000
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