No law to liquidate ANCYL - lawyer

2013-06-07 14:43
(Supplied)

(Supplied)

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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
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