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BL Premium reports that Khulubuse Zuma, who has been provisionally sequestrated with claims that he owes R1.4bn to creditors of the Pamodzi mining group, has apparently only now consulted a lawyer in the matter.
He chose to speak via an affidavit signed by his recently appointed attorney, Mike Pedersen, which came before Durban high court judge Mokgere Masipa this week. The nephew of former president Jacob Zuma advised he had an agreement with the liquidators that he would pay them R23m, that R10m had already been paid, and he was confident he could pay the balance before the end of 2019. This was the first time Zuma had submitted any response to the court since the provisional order was granted earlier in 2019. Pamodzi’s mines were placed in liquidation in 2009. Two of them — Orkney and Grootvlei — were “bought” by Aurora Empowerment Systems, of which Zuma was one of five directors. The company took control of the mines and “stripped” them of their assets and gold produce without paying anything for them. Aurora was liquidated in October 2011. Zuma and the other directors were held personally liable for the debts of the company. While advocate Clayton Edy, for the liquidators, pushed for a final sequestration order this week, the judge gave Zuma until August to file a fuller opposing affidavit.
- Read the full original of Tania Broughton’s report on this story at BusinessLive (paywall access only)
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