Widaad Ebrahim-Fakier
Director
Norton Rose Fulbright South Africa Inc
Related services and key industries
Biography
Widaad is a corporate and commercial litigation lawyer based in Johannesburg.
Widaad focuses on complex and high value banking, finance and regulatory disputes (including insolvency and administrative law litigation) and on IT/C regulatory advisory and disputes with a focus on privacy and cybersecurity.
Widaad advises domestic and multinational corporate clients, banks and public bodies, and has specific experience in the financial services and technology sectors. She routinely advises on banking and financial services regulation, insolvency, anti-money laundering and information law, including data protection, privacy and cybersecurity issues and regulatory compliance.
Widaad holds an LLB from the University of the Witwatersrand, and postgraduate certificates in Cyber Law & Access to Information; and Advanced Company Law.
Widaad was admitted as an attorney in South Africa in 2010, and is a member of the International Association of Privacy Professionals as well as the South African Restructuring and Insolvency Practitioners Association.
Professional experience
Collapse all- Postgraduate Courses in Cyber Law & Access to Information, Nelson Mandela Institute of the School of Law, University of the Witwatersrand (2014)
- Certificate in Advanced Company Law, Nelson Mandela Institute of the School of Law, University of the Witwatersrand (2011)
- LLB, University of the Witwatersrand (2007)
- Attorney, qualified in South Africa 2010
General, Financial Services and Insurance - Litigation
- a regulatory authority in various civil proceedings against illegal deposit taking schemes valued between ZAR 800 million and ZAR 1.2 billion, including civil action on freezing assets and recovery of assets as well as the repayment of depositors, typically by way of adjunct insolvency proceedings against insolvent scheme operators.
- major South African bank in the High Court proceedings brought by the Minister of Finance for declaratory relief as to his executive duties and power(s) to intervene in the termination of a banker-client relationship, together with ancillary issues relating to compliance with the Financial Intelligence Centre Act.
- a major South African bank in a series of civil damages actions in the approximate sum of ZAR 1.4 billion, arising from its position as custodian of a failed collective investment scheme, under curatorship and consequent multijurisdictional insurance litigation for the banks ancillary claims for indemnification pursuant to underlying English law governed reinsurance contracts.
- a major South African bank in defence of a court action seeking recognition and enforcement in South Africa of a judgment taken against the bank in Gabon.
- the subsidiary of a listed coal mining company in a civil damages claim arising from a failed empowerment transaction, with a claim value of ZAR 5.6 billion.
- a major South African bank in civil proceedings and a threatened class action for damages arising from online cyber fraud through its online banking platform.
- a multinational electronic payment processing company, listed on the NY Stock Exchange, in relation to a USD 30million wire transfer fraud perpetrated against it, including freezing injunction, anti-dissipation and recovery proceedings.
- a regulatory authority in the financial services sector in various review proceedings launched before the Financial Services Tribunal, in defence of its decisions to impose sanctions under the Financial Sector Regulation Act and ancillary banking, insurance and financial services litigation.
- the business rescue practitioners and related entities (in business rescue) in a landmark judgment by the Constitutional Court in relation to the appropriate fora for judicial review proceedings under the Competition Act and ancillary review proceedings.
- the South African Reserve Bank in judicial review proceedings brought against it in relation to contraventions of the South African Exchange Control Regulations, in defence of various blocking and/or forfeiture orders.
Banking, Financial Services and Privacy - Advisory
- a regulatory authority in the financial services sector in relation to various administrative law matters and the imposition of sanctions under governing banking, insurance and financial sector laws.
- a major South African bank in relation to its risk, strategy and ancillary compliance issues arising from a data breach incident experienced at a third party supplier/processor.
- local and foreign banking clients and financial institutions on anti-money laundering compliance and reporting obligations under the Financial Intelligence Centre Act, as well as issues relating to data protection, privacy, the cross-border flow of information and cyber risk issues.
- large public multinational corporations in the motor, technology and pharmaceutical industries with respect to the South African privacy and data protection framework surrounding the implementation of information processing systems and other privacy issues applicable to the cross-border flow of information, group data transfer arrangements, interception of communications, content regulation, intermediary liability, cybercrime and defamation.
Business Rescue and Insolvency - Litigation
- a major capital markets investor in a civil damages action against the originators of a failed retail securitisation scheme with associated insolvency proceedings.
- a multinational private equity fund in relation to its interests in the Thuthuka Group business rescue, challenging the business rescue proceedings, launching ancillary damages claims and initiating cross-border insolvency proceedings in Mauritius.
- the Public Investment Corporation in multijurisdictional insolvency litigation in Nigeria and the USA in relation to its investments in Erin Energy Corporation, and its Nigerian and Gambian subsidiaries, including advice on applicable Nigerian and Gambian mining regulation, engagement with local regulatory authorities and Receivers on the validity of Oil Mining Leases, enforcement of historic defaulted royalties and potential restart operations in Nigeria, following the insolvency of the Nigerian and Gambian mining title(s) holders.
- repayment administrators appointed under section 84 of the Banks Act, resulting in a landmark Supreme Court of Appeal judgment on the scope and powers afforded to them under the Banks Act vis-à-vis the powers of a liquidator / trustee following the sequestration of a Ponzi scheme operator.
- a regulatory authority in the financial services sector in relation to the curatorship and subsequent liquidation of Nestlife Assurance Corporation, following its failure to meet prescribed minimum capital adequacy and solvency capital requirements.
- a lending consortium of local and multinational banks in defence of a court application to set aside a R650 million bridging facility to Group Five Construction, subsequently placed into business rescue.
Business Rescue and Insolvency - Advisory
- foreign banking clients and financial institutions on applicable regulation and consequences of insolvency, curatorship and business rescue, including advice on custodial relationships and apportionment of risk on insolvency.
- foreign retail and manufacturing clients on their rights following the business rescue and subsequent insolvency of local (South African) distributors.
- a liquidator in relation to the administration of an insolvent estate of a Ponzi Scheme perpetrator (estate valued at ZAR180 million) including advice on ancillary enquiry proceedings, requirements for the proof of claims in the insolvent estate, asset recovery and related advice.
- a major South African bank in relation to its exposure to Comair and the recovery of its security over a range of encumbered assets pre and post business rescue and subsequent to Comair’s provisional liquidation, including advice on the implications of the Convention on International Interests in Mobile Equipment Act 4 of 2007 on the statutory ranking of claims, post provisional liquidation.
- One Trust Data Guidance: Contributions in respect of Privacy Law and (in particular) Third Country Assessment: Public Authorities Access to Information & Data Privacy, South Africa, OneTrust Data Guidance (2020 to 2024)
- World Data Protection Report: Contributions in respect of Privacy Law, Cybersecurity regulation and related developments in South Africa (2015 and 2016)
- Other Publications: These include foreign publications / contributions in respect of Privacy Law and Cybersecurity regulation, alternatively Insolvency related topics (Insol) and more recently a publication on ESG related litigation in South Africa
- International Association of Privacy Professionals (2024)
- Member of the South African Restructuring and Insolvency Practitioners Association (2016)
- INSOL International (2016)
Insights
Navigating business rescue of state-owned entities in South Africa
Publication | Q1 2025