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New twist in R699 car scheme


The owner of Satinsky 128, the company taken to court over the 699 car sales scheme, wants to sue WesBank for R20bn.

Beeld reported on Saturday that Albert Venter claimed that WesBank had allegedly disclosed confidential information of their financing scheme, breaking their confidential agreement.

WesBank was the only bank from the four big South African banks that did not get involved in the scheme.

Standard Bank, Nedbank and Absa financed Satinsky cars.

Venter's lawyers claim that because of Wesbank's alleged disclosures, he lost 25-billion rand.

Meanwhile, South Africans caught up in the scheme were dealt a blow this week when PE High Court judge Dayalan Chetty turned down an application for certification for a class action seeking to declare the contracts with the banks null and void.

Local attorney, Duncan Heuer, brought the application on behalf of Johannes Bartosch, one of hundreds of South Africans who were caught up in the scheme and now have to pay the full instalment to the banks after the subsidy fell away.

He said the dismissal of the application now means that consumers will have to resolve their matters individually