The Nova Property Group is facing winding up applications in the High Court for 12 companies because they are allegedly unable to pay their debts, reports Moneyweb.

It is alleged these companies owe the Quatro Group more than R13.84m for security and cleaning services provided to various shopping malls owed by Nova.

An application has been lodged in the Gauteng High Court (Pretoria) by Quatro Security Services (Pty) Ltd and Quatro Cleaning Services (Pty) Ltd for the winding up of Tarentaal Centre Investments (Pty) Ltd because of outstanding debts.

Quatro Security Services and Quatro Cleaning Services CEO Ian Labuschagne confirmed that the Quatro Group is simultaneously instituting separate winding up applications against a further 11 companies in the Nova Group.

The Quatro Group companies have indicated they intend to apply for the winding up application related to Tarentaal Centre Investments to be heard on 18 July if its application is opposed, and on 4 July if it is unopposed.

The same dates are listed for the winding up applications against the other 11 companies. Labuschagne said he had been made aware of the legal principle that an applicant is not allowed in law to seek the winding up of more than one entity in one application unless the facts and issues are identical, but this is not such a matter.

He said all the applications will in any event ‘be heard simultaneously before one presiding judicial officer’ due to the facts overlapping to a large extent.

Labuschagne claimed Quatro Security Services and Quatro Cleaning Services are creditors of the 12 debtor companies within the Nova Group.

Nova chair Connie Myburgh said the applications are without merit and are being opposed.

Full Moneyweb report