Malema placed under provisional sequestration

2014-02-10 13:41
Julius Malema (File, AFP)

Julius Malema (File, AFP)

Multimedia   ·   User Galleries   ·   News in Pictures Send us your pictures  ·  Send us your stories

kalahari.com

Pretoria - The sequestration of EFF leader Julius Malema's estate will be to the advantage of his creditors, the High Court in Pretoria ruled on Monday.

Judge Bill Prinsloo said the Insolvency Act made specific provision that the SA Revenue Service (Sars) could institute sequestration proceedings against a person for their tax debt. He ordered that Malema be provisionally sequestrated.

"I am satisfied that the applicant [Sars] has established the requirements for the grant of a provisional sequestration," Prinsloo said in his judgment.

A draft order was signed and made an order of court. Reading the order into the record Prinsloo said: "The estate of the respondent [Malema] is placed in provisional sequestration."

Malema and anyone else who did not want the order to be made final had until 10am on May 26 to give reasons as to why this should not happen.

Malema's lawyer Tumi Mokoena said the sequestration was costly and unnecessary.

"We find it very academic... It was totally unnecessary and a waste of the taxpayers' money. Today, a sequestration runs into millions of rands, depending on the legal team you are choosing."

He said a final sequestration order would affect Malema's political career, as he would not be allowed to serve as a Member of Parliament.

According to court documents, Malema owed R16 million plus interest after failing to submit tax returns between 2006 and 2010. In 2010 Sars contacted Malema about his failure to submit tax returns. It took Malema 18 months, after many attempts by Sars, to file his outstanding returns. Malema also failed to register the Ratanang Trust for tax purposes, and Sars had to do this on his behalf. Sars attached some of Malema's property to recoup the taxes he owed.

Earlier on Monday, Malema's legal team brought an application asking for the sequestration matter to be postponed because he wanted to have an admission of liability, which he signed last year during negotiations with Sars, set aside. He wanted the matter postponed pending the finalisation of his corruption case.

Prinsloo dismissed the application and went directly into reading his judgment on the sequestration matter.

He said Malema's lawyers arriving with an application for postponement was nothing but a "delaying tactic and abuse of the system". Prinsloo said the court should not tolerate this.

Sars opposed the application for a postponement, also accusing Malema's legal team of trying to delay the matter.

- SAPA

Read more on:    eff  |  sars  |  julius malema
NEXT ON NEWS24X

Read News24’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
278 comments
Add your comment
Comment 0 characters remaining
 

Inside News24

 
 

Minister promises high security on election day

Police will be out in full force in Manenberg on election day, Police Minister Nathi Mthethwa has told residents of Cape Town's gang-plagued township.

 
 

Latest elections multimedia

Watch what happened when we blindfolded Helen Zille and asked her to eat random things
13 days to elections - news you need to know
11 Julius Malema quotes you'll never forget
DA won't get 30% - Zille
 
Traffic
Lottery
 
  • Friday Parow - 06:35 AM
    Road name: N1 Inbound
    DELAYS between Plattekloof Road and the N7 Highway
  • Friday Pinelands - 06:29 AM
    Road name: N2 Inbound
    SLOW TRAFFIC between Duinefontein Road and the Jan Smuts Drive exit
 
More traffic reports...
 

Jobs in Cape Town [change area]

Property [change area]

Travel - Look, Book, Go!

Escape winter, head to Mauritius

Escape winter by spending 7 nights in Mauritius' tropical bliss from R13 215 per person sharing. Includes return flights, airport transfers and accommodation. Book now!

Kalahari.com - shop online today

Mother’s Day special offers!

Spoil mom with these awesome specials that will warm her heart. Shop now!

Twisp – the smoking alternative

Buy any 2 refills for R250 and save R149. Offer valid while stocks last. Shop now!

25% off bestselling books!

The Real Meal Revolution by Tim Noakes, Jeffrey Archer’s Be Careful What You Wish for, Man’s Search for Meaning by Victor E. Frank and many more titles. Shop now!

Mother’s Day specials on appliances

Browse our range of Mother’s Day appliances to spoil and pamper mom. Offer valid while stocks last. Shop now!

DStv HD PVR Decoder now R949

The DStv HD PVR Decoder has further revolutionised the television experience with lifelike viewing, sharper images, more vibrant colours and precision picture quality. Now R949, save R550. Offer valid while stocks last. Shop now!

OLX Free Classifieds [change area]

Samsung Galaxy s4

Mobile, Cell Phones in South Africa, Western Cape, Cape Town. Date October 24

Best bargain in big bay

Real Estate, Houses - Apartments for Sale in South Africa, Western Cape, Cape Town. Date October 25

VW Golf 6, 1.6 Trendline (Excellent condition)

Vehicles, Cars in South Africa, Western Cape, Cape Town. Date October 25

Samsung Galaxy Y

The Samsung Y (Young) is tiny but powerful with Android...

From R1499.00

I'm shopping for:

Horoscopes
Aquarius
Aquarius

Treat yourself to something beautiful. You tend to put so much energy in making everything around you work harmoniously, and...read more

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.