Fate of indebted ANC Youth League known by Friday

2014-03-25 00:00

THE fate of the ANC Youth League will be known by the end of the week.

Judge Phillip Boruchowitz said yesterday in the Johannesburg High Court he wants to rule on the sequestration application against the league by Friday.

The argument in the court was whether the youth league must be liquidated or sequestrated, and to rule on this the court has to decide whether the league is a company or not.

Earlier, it was reported that the ANC Youth League owes R15 million.

The closed corporation Z2 Presentations told the court ANCYL owes it R12,8 million plus interest for services rendered at its Bloemfontein congress in 2008, where Julius Malema was elected as ANCYL leader.

Z2 Presentations had initially negotiated with the youth league and the ANC about the debt and the league undertook to pay the debt in installments.

The ANC did pay a few installments on behalf of the league, with the last payment in November, 2011.

Join the conversation!

24.com encourages commentary submitted via MyNews24. Contributions of 200 words or more will be considered for publication.

We reserve editorial discretion to decide what will be published.
Read our comments policy for guidelines on contributions.

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
0 comments
Comments have been closed for this article.

Inside News24

 
/News

Book flights

Compare, Book, Fly

Traffic Alerts
There are new stories on the homepage. Click here to see them.
 
English
Afrikaans
isiZulu

Hello 

Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.


Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.

Settings

Location Settings

News24 allows you to edit the display of certain components based on a location. If you wish to personalise the page based on your preferences, please select a location for each component and click "Submit" in order for the changes to take affect.




Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.