Malema to oppose bankruptcy application

2013-02-01 09:28
Julius Malema (File, AP)

Julius Malema (File, AP)

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

Johannesburg - Expelled ANC Youth League president leader Julius Malema will oppose an SA Revenue Services (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 South Gauteng 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.

Read more on:    sars  |  julius malema

SHARE:

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
88 comments
Add your comment
Comment 0 characters remaining

Inside News24

 
SPONSORED CONTENT
The best-kept secrets of electric cars

The secret day-to-day benefits of driving an electric car.

/News
 

Top 10 richest musicians of all time

Check out the gallery to find out who they are!

 
 

Luxury living

10 of the most expensive things that will leave your jaw hanging!
Seven of the most expensive children's toys ever made
5 millionaires turned murderers
The youngest billionaires in the world and how they made it
Horoscopes
Aquarius
Aquarius

Innovation, idealism, romanticism and other far reaching dreams can lead you into a spiral of enthusiasm and excitement. Somewhere...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.