FNB's kiss for my silence


FNB's kiss for my silence

Rabbi breaks silence secured by FNB with an R800,000 incentive.

One of the country’s best known rabbis has broken a 16-year silence to reveal to Noseweek an extraordinary deal in which he agreed not to “go public” with the revelation that his FNB safety deposit box had been plundered by a bank employee.

In return for Rabbi Hirsch Rosenblum’s silence, First National Bank would not press him to pay its legal costs totalling around R800,000. The inducement, which many might consider a form of extortion, was made by FNB after the bank won a Supreme Court of Appeal test case against the rabbi in 2001. Judge RM Marais ordered Rosenblum to pay all FNB’s legal costs, which included two counsel at the appeal, and all the bank’s earlier high court costs.

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Keywords:
F N B
Fnb
Rosenblum
Safety Deposit Boxes
Consumer Protection Act
Theft
exclusion clauses
banks
South Africa
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