ANCYL: Judgment reserved

2013-06-08 00:00

THE ANC Youth League (ANCYL) will have to wait to hear if it is to be liquidated.

Judgment was reserved yesterday in an application for liquidation in Johannesburg.

Z2 Presentations alleges the youth league owes it more than R15 million for services rendered at the 2008 congress.

John Peter, the ANCYL’s lawyer, argued yesterday there is no law under which the league could be liquidated because it is not a company.

Peter did not deny that the league owes Z2 Presentations.

ANC secretary-general Gwede Mantashe said the ANCYL cannot pay its debts because it has no assets.

The league’s bank account is also apparently empty.

Z2 Presentations’ lawyers argued that the ANCYL could indeed be declared bankrupt under the Insolvency Act.

No date was set for the ruling.

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