Gupta compound sold
The controversial Gupta family’s Saxonwold compound has been sold for approximately R34.5m, Park Village Auctions (PVA) said.
PVA announced that all three properties – numbers 3, 5, and 7 Saxonwold Drive in Sandton, Gauteng – have been sold.
According to The Star, the sale includes furniture and appliances, with the total amount realised inclusive of buyer’s commission and VAT.
‘PVA has realised approximately R34.5m for all three Saxonwold properties and their contents,’ said PVA’s Clive Lazarus.
Lazarus confirmed that the business rescue practitioners (BRPs) accepted and approved the offer.
The properties belonged to Confident Concept (Pty) Ltd, which is currently under business rescue.
The BRPs will distribute the proceeds according to the business rescue plan, offering some relief to creditors.
‘The BRPs are satisfied with this outcome, as is PVA. The sale signifies how we, with the BRPs, will be relentless in reclaiming funds owed to creditors,’ said Lazarus.
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.
