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
47 comments
Add your comment
Comment 0 characters remaining
 

Inside News24

 
/Music
 

17 photo illusions that look so real

What if they aren’t illusions? What if that dog really has a human foot – then what?

 
 

For chic geeks...

It’s THIS easy for someone to steal your ATM pin!
Check out the speed of this robo-cheetah!
New GIF keyboard on iOS for added fun!
Puppy goes crazy over iPad game

Jobs in Cape Town [change area]

Property [change area]

Travel - Look, Book, Go!

Magical Massinga

Spend 5 nights at the gorgeous Massinga Beach Lodge in Mozambique and only pay for 4 from R13 220 per person sharing. Includes return flights, accommodation, transfers and romantic turndown. Book now!

Kalahari.com - shop online today

Pre-order your iPhone 6 at kalahari.com

Hurry and pre-order your own iPhone 6 now at SA’s favourite online store!

Bargain box – 60% off

Reduced prices, very limited stock. While stocks last. Hurry and shop now!

Mind blow low prices on electronics

Get either the Prestigio multiphone or Proline tablet 7” tablet for only R699. Offers valid while stocks last. Shop now!

30% off Barbie toys

Save 30% on all Barbie toys and accessories. Offer valid while stocks last. Shop now!

Baby extravanganza month at kalahari.com

Celebrate baby month with a wide range of awesome baby products. Offers 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

Horoscopes
Aquarius
Aquarius

There is a tendency to fight against the current today but this will just use up a lot of energy and not get you very far. You...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.