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

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

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

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
23 comments
Comments have been closed for this article.

Inside News24

 
ADVERTORIAL
Competition regulation for a growing and inclusive economy

ADVERTORIAL: The Competition Commission of South Africa is conducting advocacy work in the South African automotive aftermarket industry and has gazetted a Draft Code of Conduct for public comment.

/News
 

How to open a beer bottle without an opener

Do the right thing and never be thirsty again…

 
 

You won't want to miss...

WATCH: Man films himself going down water slide upside down as things go very wrong…
WATCH: Conor McGregor: Notorious the trailer
Best date night restaurants in South Africa
WATCH: Ryan Reynolds offers fans a free tattoo in new Deadpool 2 teaser
Traffic Alerts
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.