The one positive of this, even if some of it is depressing, is that there'll be life on the other side, writes Adriaan Basson.
A Sunday Times investigation has further broken down how money from Santaclara Trading, a company registered to EFF leader Julius Malema's cousin, Jimmy Matlebyane, has been channelled into three different accounts.
Fourteen municipalities that deposited R1.6bn in the ill-fated VBS Mutual Bank were unlikely to ever recover their money, the auditor general says.
VBS Mutual Bank's liquidators will meet creditors of the ill-fated bank in November, where the latter can lodge claims on the estate of the bank.
The liquidators of VBS Mutual Bank have served papers on former president Jacob Zuma demanding repayment of a mortgage loan of more than R7m, failing which they are asking the court to attach his Nkandla property to recoup the money.
The total cost of placing VBS Mutual Bank under curatorship amounted to R21.6m, Finance Minister Tito Mboweni has said.
The ANC in Gauteng has decided to refer mayors from two of its municipalities in the West Rand to its provincial integrity commission over the VBS scandal, while its council in Emfuleni will elect a new mayor.
Seven mayors in the North West, including four implicated in a report on the collapse of VBS Mutual Bank, are refusing to resign in spite of being instructed to do so by the ANC's provincial task team.
Eight municipalities from the North West were placed under administration in September alone.
The South African Local Government Association was not aware of VBS's issues until it was too late, national executive committee member Bhekumuzi Stofile has told Parliament.
Former North West premier Supra Mahumapelo has rubbished claims that he "vigorously encouraged" municipalities in his province to invest R314m with now collapsed VBS Mutual Bank.
VBS liquidator Anoosh Rooplal will check accepted claims against bank records and adjust or expunge those found to have discrepancies or to be invalid.
Former President Jacob Zuma has filed a notice of intention to fight a summons filed by VBS Mutual Bank for him to pay back the R7.3m he owes for his Nkandla home, or risk losing the property, reports say.
The EFF leader’s brother has had an astonishing reversal of fortunes. Early this year he could afford no more than R5 000 per month to pay his enormous VBS debt. Last month he suddenly had R1m and this week he had another R2m to throw at the problem. Where he got it, no one knows.
An investigation by Scorpio has revealed that money stolen from VBS Mutual Bank funded the EFF's fourth birthday bash, which was held at a popular party venue in Umlazi, Durban.
The council of the Merafong municipality has resolved to implement recommendations in the VBS Mutual Bank report which include disciplinary action and civil and criminal charges.
The PIC has Scopa it is pursuing those responsible for VBS-related losses, and awaiting the outcome of a PwC forensic investigation into Steinhoff before making a decision.
Former president Jacob Zuma is still required to honour monthly payments for his home loan at VBS Mutual Bank.
EFF leader Julius Malema says we should be ashamed that we folded our arms and let VBS bank be liquidated.
Seven municipalities in Limpopo are on the brink of insolvency and could be placed under administration after they lost hundreds of millions of rands in investments into VBS Mutual Bank.
EFF MP Mbuyiseni Ndlozi has rubbished the forensic report into large-scale looting at VBS Mutual Bank, in which the brother of the party's chief whip, Floyd Shivambu, was implicated.
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