No law to liquidate ANCYL - lawyer

2013-06-07 14:43
(Supplied)

(Supplied)

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

Johannesburg - There is no law that allows for the African National Congress Youth League to be wound up, the South Gauteng High Court heard on Friday.

John Peter, for the ANCYL, said an application for the liquidation of the organisation by Z2 Presentations, trading as University Events Management (UEM), was a "bad winding up application".

"The Companies Act does not permit the winding up of a body corporate other than a company," he said.

The ANCYL has failed to pay UEM nearly R15m for its 2008 national congress in Mangaung in the Free State, where expelled leader Julius Malema was elected.

The sheriff reportedly twice tried to seize ANCYL assets, but found there were none.

'Shambolic and chaotic'

In an answering affidavit, ANC secretary general Gwede Mantashe said it was a matter of record that the ANCYL's affairs were "shambolic and chaotic".

The UEM's lawyers have argued that the Insolvency Act applies, and that as a result the ANCYL's affairs can be wound up.

A trustee needed to be appointed to establish where the ANCYL's assets were, since it was an organisation with numerous members who paid annual fees, and which received donations.

Earlier, Dirk Vetten, for UEM, told the court his clients decided to bring an application for both winding up the ANCYL and sequestration.

The affidavit for sequestration was submitted late in the filing of papers.

Winding up is a process of putting an end to the life of a company. It is the procedure by which a company is dissolved. Its assets are collected and debts are paid off, either out of the assets or from contributions by its members, if necessary.

Sequestration is surrendering an estate by a person, a process instituted by the court to help people no longer able to pay their debts due to uncontrollable circumstances.

- SAPA
Read more on:    anc  |  ancyl  |  politics
NEXT ON NEWS24X
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
46 comments
Add your comment
Comment 0 characters remaining
 

Inside News24

 
/News
 

Joburg hot spots for cocktails, craft beer, tapas and wine!

It’s the season to be jolly – so we’ve rounded up some new Joburg hot spots!

 
 

I love summer.24

The craziest deaths of 2014
How to make this a sensual, sexy summer!
This is what South Africans Googled in 2014!
This hilarious song is your new holiday anthem

Jobs in Cape Town [change area]

Property [change area]

Travel - Look, Book, Go!

Kalahari.com - shop online today

2DAYS ONLY – 30% off Appliances

Coffee makers, blenders, fans, juicers and more. T&Cs apply. Shop now!

2 DAYS ONLY – 40% off books

Get 40% off when you buy 2 books. For two days only! T&Cs apply. Buy now!

Up to 50% off on outdoor gear

Save on chairs, blankets, cooler bags, umbrellas and more. Shop now!

Save on Samsung

Cameras, mobile phones, TVs, Tablets and more. While stocks last. Shop now!

Grand Theft Auto 5

Now available on PS4, Xbox One and PC from R649. Buy 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

Horoscopes
Aquarius
Aquarius

There is so much going on around you and inside your head. You may want to take your ideas to the next level. Romance may be...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.