Sexwale in court over luxury mansion

2013-10-13 14:36
Judy en Tokyo Sexwale. | Foto: Sipho Maluka

Judy en Tokyo Sexwale. | Foto: Sipho Maluka

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Cape Town - Jean-Yves Ollivier, a French businessman and good friend of sacked housing minister Tokyo Sexwale, has turned to the Cape Town High Court to compel Sexwale to move out of a R100m Clifton house that he once gave to his wife Judy as a Christmas present.

According to the Sunday Times, Ollivier, the legal owner of La Mer, a luxurious double-storey mansion, has filed court papers to have Sexwale evicted. However, in court affidavits filed over the La Mer issue, it appears that the Sexwale couple stood personal surety for a R28.5m Standard Bank mortgage for the Frenchman when he bought the house from the city of Cape Town in 2007. He signed a sale agreement with Sexwale but claims the agreement is null and void as the full purchase price of R28.5m was not paid. However, Sexwale has been servicing bond payments of over R200 000 a month.

But Sexwale said in court papers that Ollivier had received R28.5m in settlement of the purchase price.

Previous property sale

Earlier this year, Sexwale's Mvelephanda Holdings put up for sale the top Cape wine farm Constantia Uitsig, according to a Fin24 report. The estate was co-owned with other investors.

The agricultural portfolio manager of Mvelephanda was quoted as saying the decision was made in order to concentrate on agricultural investment in which the company is directly involved from an operational point of view.
Read more on:    tokyo sexwale

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