City Royal to be liquidated

2014-03-27 00:00

AN application for leave to appeal against a court order placing Pietermaritzburg’s City Royal Hotel under final liquidation was dismissed in the high court on Tuesday.

Acting Judge Piet Bezuidenhout dismissed the application with costs when no one appeared at court to argue the matter on behalf of the owners of the hotel, Blue Serenity Investments (Pty) Ltd.

The hotel was placed under final liquidation on December 4 last year, and has been closed since. The application to liquidate the hotel was launched by the Development Bank of South Africa, which was owed R12 176 234,44 by Blue Serenity Investments under a loan agreement.

Blue Serenity Investments, under the directorship of KwaZulu-Natal’s former Treasury head and corruption accused, Sipho Shabalala, and his wife, Beatrice, was first placed under provisional liquidation during 2011. The Assets Forfeiture Unit moved against it during the course of an investigation concerning tenders secured by the KZN Health Department for water purification plants and medical oxygen supplies.

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