Johannesburg - The executors of the estate of ANC benefactor
Sandile Majali want a court to set aside a decision to award his company
ownership, worth R500m, to a former business partner, it was reported on
Tuesday.
Business Day reported that Majali’s family had approached
the High Court in Johannesburg to set aside an arbitrator’s decision to award
ownership of Siyanda Chrome Investments to Lindani Mthwa.
According to the newspaper, Majali and Mthwa had each
claimed to hold all shares in the company. However, in October 2010, an
arbitrator decided, without hearing representations by Majali, that Mthwa owned
100% of the company. Majali brought an application to set aside the
award, but died, in December 2010, before the application could be heard.
Business Day reported that Majali’s family argued they were
entitled to dividends, amounting to millions of rand, from Siyanda Chrome
Investments.
Dumisa Ntsebeza SC, for the executors, told the court it
could intervene when an arbitrator had committed gross irregularity, exceeded
his powers or when an award was improperly obtained.
He said the arbitrator had not given Majali any written
notice explaining his absence from the proceedings.
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