Land Bank sues ANC heavyweights

2014-03-30 11:01
(File, AFP)

(File, AFP)

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

Johannesburg - The state-owned Land Bank has brought a claim against several ANC heavyweights, high-ranking government officials and property mogul Roux Shabangu, The Sunday Independent reports.

This was in a bid to recoup an unauthorised R82m loan it granted them for a bungled North West development.

The development was proposed as a huge tourism attraction in the Hartbeespoort area, with a hotel, conference centre, shopping centre and more than 400 sectional title units, the paper said.

But eight years after Westside Trading 570 signed the contract, the land was still vacant and had not been sold, the company was in liquidation, and the Land Bank was demanding its multi-million rand loan back with interest.

According to papers filed in the North Gauteng High Court in Pretoria, Westside Trading had failed to make payment of the R82m by the end of April 2009.

Summons was issued against the company and its nine directors, who stood surety and were co-principal debtors.

Shabangu, Gauteng legislature speaker Lindiwe Maseko, department of co-operative governance and traditional affairs chief operations officer Lydia Sebego, and former SABC board member Desmond Golding are among the nine shareholders in the company, the paper reported. Golding sits on the ANC's economic transformation committee and Cosatu's panel of progressive economists.

Read more on:    anc  |  roux shabangu  |  politics

Join the conversation!

24.com encourages commentary submitted via MyNews24. Contributions of 200 words or more will be considered for publication.

We reserve editorial discretion to decide what will be published.
Read our comments policy for guidelines on contributions.
NEXT ON NEWS24X

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
106 comments
Comments have been closed for this article.

Inside News24

 
/News
 

Pedal power to hit Kouga this May

Hundreds of adrenaline junkies will descend on Kouga this May for the annual action-packed MySpar Mountain Bike Classic.

 
 

Outdoor

Extreme Kiteboarding in Pumping Conditions!
The Arctic becomes an unlikely surfing hotspot
A romantic holiday to beat the winter blues
Why should you do a 5k?

Book flights

Compare, Book, Fly

Traffic Alerts
Traffic
Horoscopes
Aquarius
Aquarius

There is a strong pull between going your own way and feeling obligated to the ideals or expectations of others. This can create...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.