Fate of indebted ANC Youth League known by Friday

2014-03-25 00:00

THE fate of the ANC Youth League will be known by the end of the week.

Judge Phillip Boruchowitz said yesterday in the Johannesburg High Court he wants to rule on the sequestration application against the league by Friday.

The argument in the court was whether the youth league must be liquidated or sequestrated, and to rule on this the court has to decide whether the league is a company or not.

Earlier, it was reported that the ANC Youth League owes R15 million.

The closed corporation Z2 Presentations told the court ANCYL owes it R12,8 million plus interest for services rendered at its Bloemfontein congress in 2008, where Julius Malema was elected as ANCYL leader.

Z2 Presentations had initially negotiated with the youth league and the ANC about the debt and the league undertook to pay the debt in installments.

The ANC did pay a few installments on behalf of the league, with the last payment in November, 2011.

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