JOHANNESBURG (Reuters) – South Africa’s High Court dismissed an appeal by the National Credit Regulator (NCR) against a ruling that had cleared Lewis Group of breaching credit rules with fees it charges customers, the retailer said on Monday.
The credit regulator lodged an appeal last year after the tribunal cleared the furniture retailer, which sells mostly to customers on lower incomes using in-store credit.
The tribunal’s ruling meant Lewis Group effectively avoided a fine that could have totalled up to 10 percent of annual sales.
“The High Court handed down judgment in Lewis’ favour with regard to the appeal by the NCR. The matter was dismissed with costs against the NCR,” said Lewis in a statement.
The credit regulator in 2016 referred Lewis to the National Consumer Tribunal, accusing it of contravening credit rules when charging customers for warranties and club membership fees that entitled them to special deals.
Reporting by Tanisha Heiberg; Editing by Edmund Blair