TRUSTCO BANK INTERDICT APPLICATION DISMISSED ON URGENCY GROUNDS
Trustco Group Holdings Limited (Trustco) announces that the urgent interdict application filed by its investee, Trustco Bank Namibia Limited (Trustco Bank), has been dismissed by the Windhoek High Court. In one of several cases before the courts between the parties, Judge Boas Usiku ruled against granting urgent relief sought by Trustco Bank. Trustco has been ordered to pay legal costs related to the application.
According to the Group CEO of Trustco, Dr. Quinton van Rooyen, “While disappointed by the urgency dismissal, Trustco always follows the rule of law. This is just one interlocutory judgment in an interim matter in extensive ongoing legal proceedings. Courts are where ordinary citizens like us seek to have disputes resolved and establish the law if required.”
He further emphasized, “Trustco will always comply with any lawful and reasonable instruction from any regulator or higher authority. We will always oppose tyranny and unjust instructions. That is the DNA of Trustco. This saga remains far from over.