Loading...
See More

King, Player settle R33m loan dispute

Sep 05 2013 16:01 Carin Smith

Dave King caddies for Gary Player during the second round of the 2009 Masters Tournament in Augusta, Georgia. (David Cannon, AFP)

Related Articles

King lawyer: Don't fight Sars

Player saga: Taxman on Dave King’s trail

Player denies loan claim

Dave King demands R33m from Gary Player

King curator in dark over Player loan

Dave King must pay R706m or face prison

 
Cape Town - Tax rebel Dave King and golf icon Gary Player have come to an amicable settlement in their dispute about a loan.

"I can confirm that the parties have reached an amicable settlement of all their disputes," Player's lawyer Rael Gootkin told Fin24 on Thursday.

The settlement is, however, conditional upon a number of suspensive conditions being fulfilled.

King recently settled on a payment of R706.7m to the South African Revenue Service (Sars).

This settlement was achieved following submissions made to Sars by King and entities associated with him.

The Scottish-born claimed R33m from Player in the Grahamstown High Court in June, claiming it related to a loan of R6.1m made to Player in July 1999, plus interest.

Player claimed that King had given him the money to pay off a R6m debt he (Player) owed to a sports management company.

In return, King could then travel with Player to major international sports events, which he did.

- Fin24

Follow Fin24 on Twitter, Facebook, Google+ and Pinterest.

dave king  |  gary player  |  tax  |  loans
NEXT ON FIN24X

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
7 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

We're talking about:

Small Business

Businesses, especially call centres, need mechanisms to monitor performance in real time to help improve individual performance within a team, says 1Stream boss.
 
 

LOL! 7 brutally honest texts from parents

Sometimes honesty is not the best policy!

 
 

For chic geeks...

This lock means keys are something of the past!
DuckTales theme song gets 'quacked-up'
7 things you didn't know about Apple
Facebook testing self-destruction posts

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...
Loading...