MRS DURR vs ABSA


Between May 1990 and November 1992, Valerie Durr purchased preference shares and secured debentures in Supreme Holdings Ltd and Supreme Investment Holdings (Pty) Ltd. She was advised to do so by regional manager of ABSA's brokerage division in Cape Town, Myles Stuart. This was in spite of the fact that there was no prospectus or financial statements available for Supreme. In November 1992 both Supreme companies went into liquidation under notorious circumstances. To what extent, the Cape Supreme Court had to decide, was Stuart responsible for Durr's loss.

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