Legal Articles and Guides

Law firm Fluxmans claims its former director Solomon Slom (81) admitted to stealing millions from a client's escrow account – and said it was forced to sequestrate Slom to stop him from blowing the cash he has left.

The attorney of controversial diamond trader Louis Liebenberg spent the weekend in police cells for failure to comply with an order by an insolvency inquiry commissioner, Netwerk24 reports.

Rushil and Nishani Singh yesterday appeared in the Specialised Commercial Crimes Court in Palm Ridge on charges of uttering, forgery and fraud in connection with falsified bank guarantees supplied to Investec Bank to secure a R178m loan.

The estate of a woman linked to what is said to be SA’s biggest pyramid scheme has been placed in provisional sequestration by the Gauteng High Court (Johannesburg). This follows the Prudential Authority investigating the business practices of Travel Venture International and/or TVI Express and/or related persons commonly known as the ‘TVI Schemes’, which marketed the sale of travel vouchers that allegedly gave recipients substantial discounts for international travel and accommodation.

The Department of Justice & Constitutional Development’s ongoing clean-up campaign in the Master’s Office, which was started in 2020 after a proclamation, continues to expose deep-rooted corruption involving some of its suspended senior officials.

As the City of Johannesburg metro intensifies efforts to recoup more than R10m owed by fugitive Malawian pastor Shepherd Bushiri in unpaid taxes and levies, the Enlightened Christian Gathering (ECG) has transferred the ownership of his luxury hotel in Rustenburg in North West.

The liquidation team of the defunct VBS Mutual Bank has recovered R159m to date, way off the R2bn siphoned from the bank.

Former EFF chairperson, Advocate Dali Mpofu SC, has conceded that his party had received a ‘donation’ from the now collapsed VBS bank that left scores of poor people defrauded in 2018.

The rot at the Master's Office – the custodian of liquidations and the administration of the Guardian's Fund, among other things – is ‘worse than anyone thought’.

Automotive parts retailer and wholesaler AutoZone has voluntarily entered business rescue. The decision followed a resolution taken by the AutoZone Holdings board of directors last week.

Liquidators of the company Tariomix are asking the Gauteng High Court (Pretoria) to sequestrate alleged Ponzi boss Louis Liebenberg for the R156m owed to the insolvent company.

Eamonn Courtney – who started a company using Public Investment Company (PIC) funds – has lost his appeal in the SCA against personal sequestration.

A recent court filing by auditor Jan Dekker provides an update on what has happened to the roughly R1.1bn in Bitcoin that was recovered by liquidators and sold in SA in 2021.

As the financial woes mount for fugitive pastor Shepherd Bushiri, a Pretoria-based company has joined the long queue of entities seeking to liquidate the Shepherd Bushiri Ministries to recoup more than R1m he owes.

The Leo Chetty Group – the owner of private higher education institutions Damelin, City Varsity, Icesa and Lyceum College – is closer to being liquidated.