Frangos to go another round with Corpcapital.

Posted On Friday, 02 May 2003 02:00 Published by
Rate this item
(0 votes)
FORMER Corpcapital director Nic Frangos has issued summons against his former company, claiming R1m for invasion of privacy in an action that involves corporate intelligence company Associated Intelligence Network (AIN).

FORMER Corpcapital director Nic Frangos has issued summons against his former company, claiming R1m for invasion of privacy in an action that involves corporate intelligence company Associated Intelligence Network (AIN).

The court action is the sequel to a long-standing battle between Frangos and Corpcapital over whether the company was adhering to the appropriate standards of corporate governance.

It follows an independent review by Nigel Payne, an auditor and member of the King committee on corporate governance.

Corpcapital said Payne's report gave it a clean bill of health, while Frangos dismissed it as a whitewash.

Now Frangos is suing Corpcapital, executive director Neil Lazarus, AIN and AIN executive director Warren Goldblatt for wrongfully violating his right to privacy.

Frangos is alternatively requesting an interdict restraining the defendants from unlawfully obtaining information about his bank account, insurance policies, telephone accounts and tax information.

The high court application alleges that on or around January 17, Corpcapital, represented by Lazarus, unlawfully instructed AIN to "build a person profile and to undertake surveillance" of Frangos.

This entailed obtaining private and confidential information relating to Frangos's affairs, including his bank records from Absa Private Bank, his Vodacom phone records, tax information regarding certain trusts, and information relating to a company called Smartech.

Lazarus said last night that the action was being defended both by Corpcapital and by himself on the basis that no such instruction was given to AIN.

Both Corpcapital and Lazarus would be issuing counter-claims in the near future. These were in the process of being formulated, he said.


Apr 30 2003 06:44:03:000AM Tim Cohen Business Day 1st Edition


Publisher: Business Day
Source: Tim Cohen

Most Popular

Five things you need to know about the repo rate

Jan 28, 2021
Carl_Coetzee_BetterBond_CEO
The South African Reserve Bank has just announced that it is holding the repo rate…

SA REIT Association - Chairman's message and 2021 sector outlook

Feb 02, 2021
Estienne de Klerk_Chairman of SAREIT
Real estate has long been a rewarding sector of the financial markets. Like all sectors,…

It’s cheaper to buy than to rent a home in 2021

Feb 08, 2021
Carl_Coetzee_BetterBond_CEO
If the past year has taught us anything, it is how important our homes have become to us.

Thavhani City set for more growth in 2021 as its Motor City and medical developments accelerate

Feb 15, 2021
Thavhani_City_Locality_Layout
Thavhani City mixed-use urban precinct in Thohoyandou, designed to be the future economic…

Brand new residential development in La Lucia 60% sold through Pam Golding Properties

Feb 15, 2021
Kent_Exterior
Such is the consistent high demand for centrally located, well-priced residential…

Please publish modules in offcanvas position.