Liquidators seek sequestration of Zuma's nephew
Liquidators of the Pamodzi mines have applied for the sequestration of Khulubuse Zuma, nephew of the President, after he failed to meet a debt repayments schedule. Rapport notes that Khulubuse Zuma is supposed to repay debt in instalments of R500 000 a month.
One of the liquidators, Johan Engelbrecht, says in his affidavit filed in the Gauteng High Court (Pretoria) that Zuma initially paid the instalments until last month when he paid only R200 000 and ignored the liquidators’ demands.
Khulubuse Zuma still owes R12m.
The liquidators now say they believe Khulubuse Zuma may have lied about his assets and financial position and this could be ascertained if he is sequestrated. If Khulubuse Zuma was not truthful, the liquidators will try to recover as much of the R1.5bn lost in the Pamodzi looting as possible as the repayment arrangement will be set aside.
Article disclaimer: While we have made every effort to ensure the accuracy of this article, it is not intended to provide final legal advice as facts and situations will differ from case to case, and therefore specific legal advice should be sought with a lawyer.
