• Racial redress

    The next adult generation is at risk of being polarised on the basis of skin colour, says Solly Moeng.

  • To do list

    Keep separate lists to ensure your to-dos don't get cluttered and gain stress-free productivity, Ian Mann.

  • Clueless leaders

    Zim's leaders are clueless about managing the economy or leading the nation, says Malcom Sharara.

All data is delayed
Loading...
See More

Malema to oppose bankruptcy application

Feb 01 2013 09:34
Sapa
Johannesburg - Expelled ANC Youth League president Julius Malema will oppose an SA Revenue Service (Sars) application for his sequestration, his lawyer said on Friday.

"I can confirm that we have been instructed to oppose the application," said Nicqui Galaktiou.

According to papers filed in the High Court in Pretoria this week, Malema owes Sars R16m and is "factually insolvent and in no position to make payment of his indebtedness to Sars".

Sars reportedly said in the paper that discrepancies in Malema's representation of his net assets were not conducive to concluding that he had made a full and frank disclosure, and supported its contention that "it would be to the benefit of Malema's creditors to sequestrate his estate".

If the application succeeded, all Malema's properties - including his house in Sandton, and his house, smallholding and farm in Limpopo - would be placed under curatorship and auctioned to cover his debts.

The hearing is scheduled for February 27. 

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

corruption  |  economy  |  malema

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
2 comments
Comments have been closed for this article.
 

Company Snapshot

We're talking about:

THE DEBT ISSUE

Debt is one of the biggest financial issues facing South Africans today. Find out how you can avoid and manage your debt with Fin24 and Debt Rescue.
 

Money Clinic

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

Voting Booth

Labour’s call for a cap on salary of high earners is?

Previous results · Suggest a vote

Loading...