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auroraBusinessLive reports that lawyers acting for the liquidators of the Pamodzi mining group want to locate Khulubuse Zuma in their continuing attempts to recover the more than R1.4bn that he personally owes to creditors.  

A provisional liquidation order was granted against former president Jacob Zuma’s nephew in January, but on the return date in early March, there was no response from Zuma.  Adv. Clayton Edy, for the liquidators, asked at the time that the matter be adjourned until Friday “because there are attempts to settle the matter”.  But when the matter was called before the judge on Friday, Edy said the provisional order had been served on Zuma only via e-mail and there had been no response.  “We believe he is continuously travelling abroad,” Edy said.  The matter was adjourned until June.  Pamodzi’s mines were placed in liquidation in 2009.  Aurora Empowerment Systems, of which Zuma was one of five directors, took control of the mines and “stripped” them of their assets and gold produce.  Aurora was liquidated in October 2011.  Zuma and the other directors were then held personally liable for the debts of the company.  Two claims for R1.4bn and R122m were proven against Zuma, who undertook to pay off what he owed with a down payment of R5m and then payments of R500,000 in monthly instalments.  Liquidator Johan Engelbrecht advised that while Zuma made the down payment and some instalments, these had dried up and the full amounts were now due and payable.

  • Read the full original of Tania Broughton’s report on this story at BusinessLive


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