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An urgent hearing into the R699 car sales scheme has been set for this week in the Eastern Cape High Court.
The Business Times reports that the hearing -- scheduled for Tuesday - opens up the possibility that class action could be taken against the banks that supported
the scheme launched in 2008 by Andre Venter, the CEO of the Satinsky Group.
A group of some 550 consumers -- led by Port Elizabeth lawyer Duncan Heuer -- is to ask the court to declare contracts between the banks and car buyers null
and void.
About 17 000 people are believed to have been affected by the scheme which offered to cut repayments on new cars to about R699, if the motorists drove a minimum distance with pasted advertisements about the scheme on their cars.
The scheme collapsed earlier this month -- with banks now calling for full repayments -- amounts not affordable for all those involved.
