Latest news with #R20
The Citizen
10 hours ago
- Business
- The Citizen
Gupta-linked Saxonwold mansions head to auction after seven-year legal battle
Three properties in business rescue will go under the hammer on 24 July. After seven years of drawn-out litigation, three luxurious Saxonwold properties tied to Gupta-owned Confident Concept (Pty) Ltd are set to be auctioned. The properties – including the family's former Johannesburg residence – are being sold by Park Village Auctions following a Supreme Court of Appeal ruling, marking what auctioneer Clive Lazarus calls 'the beginning of the end' of a long-running legal and business rescue saga. ALSO READ: 'Gupta Saxonwold compound' has its lights cut Creditors can breathe a sigh of relief The simulcast auction will take place on 24 July at 11am, with the sale expected to bring long-awaited relief to creditors. Confident Concept held a substantial property portfolio including land adjacent to the infamous Saxonwold compound in Johannesburg. The company became embroiled in litigation with the City of Johannesburg, allegedly owing R726 695 in rates and taxes as of 2022. It has faced two major areas of legal contention: business rescue proceedings due to financial distress, and disputes with municipal authorities over property development. The business rescue process, which began in 2018, ran alongside the municipal disputes and involved other Gupta-linked companies. It was characterised by internal conflict and protracted legal battles over the management of the company and its assets. ALSO READ: Who paid R20 million for the Gupta's rundown Constantia mansion? Opulent and decadent The first property to be sold will be number 5 Saxonwold Drive, measuring 4 207 m², which is a three-storey residence featuring eight bedrooms, extensive living and entertainment areas, an indoor swimming pool, expansive rooftop patio, staff accommodation, and ample garaging. Second on the list is number 7 Saxonwold Drive which also comprises three storeys with 17 en suite bedrooms. The property also features a grand triple-volume foyer with an atrium-like domed skylight, multiple lounges, a cinema lounge, beauty salon, and staff accommodation. The final property to be sold is number 3 Saxonwold Drive which is a single-storey, three-bedroom home with a single garage, storeroom and staff accommodation. The entire contents of each house, namely furniture and appliances, will be sold as a single lot (not individual items) following each respective property. Lazarus says he is humbled by Park Villages Auctions being entrusted to dispose of assets of such political significance once again, recouping millions for the corruption-afflicted creditors. This article was republished from Moneyweb. Read the original here.
IOL News
11 hours ago
- Business
- IOL News
Cape Town father challenges R172,000 maintenance order, citing financial strain despite over R1 million bonus
A Cape Town father who receives over R1 million in bonuses challenged a ruling which ordered him to pay over R172,000 maintenance. Image: Pexels A Cape Town father who reportedly receives over R1 million in annual bonuses, has challenged the mother of his children and refused to produce his proof of income. The parents, who divorced in August 2010, have been at odds over financial responsibilities, as the mother continues to care for their children, aged 15 and 19. In February 2025, the maintenance court ordered the father to pay R172,188.63, which, amongst other things, will go towards the tuition cost of their older child. The money had to be paid before the end of March 2025. He was further ordered to pay over R20,000 towards the annual school fees of their second child. The total amount he had to pay was over R222,000. However, following the court's ruling, the father swiftly filed an urgent application in the Western Cape High Court to suspend the maintenance order. He argued that the amount was nearly double his net salary, asserting his financial inability to honour such payments. The high court granted a temporary suspension of the order, while simultaneously requiring the mother to demonstrate why this suspension should not become permanent pending the appeal hearing. The mother took further legal action, serving both the father and his employer with a subpoena duces tecum. A subpoena duces tecum is a court order requiring a person to appear in court and produce specific documents or other physical evidence relevant to a legal case. According to the mother, the father misled the court in his application to suspend the maintenance order. She argued that the maintenance court granted the order in line with what was provided by the father in terms of his monthly salary as well as his annual bonus which amounts to over R1 million. She further argued that the father did not provide proof to support his claim that he cannot afford to pay maintenance. He also didn't provide any evidence to support that his financial position had changed for the worse since the order was made. Furthermore, she said the father lied in his affidavit as his IRP5 showed that he had received more than R1 million in March 2025. With this information, she sought to have the interim order suspending the maintenance order to be dismissed. Furthermore, the mother highlighted discrepancies in the father's affidavit, alleging that his IRP5 tax document, which revealed earnings exceeding R1 million as of March 2025, illustrates his capacity to pay the mandated maintenance while still maintaining a comfortable lifestyle. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Next Stay Close ✕ Ad loading In response, the father approached the high court again, seeking to have the subpoena set aside. He claimed the documents requested by the mother were irrelevant and warned that such disclosures would cause irreparable harm. Presiding over the matter, Judge James Lekhuleni said the previous maintenance court order revealed that the mother battled to coerce the father to honour his maintenance obligations. He only provided financial support to the children when it suited him. He commented on the mother's diligent efforts, recognising that she was an unrepresented litigant trying to safeguard her children's welfare. The judge made it clear that the mother's attempts to compel the father to meet his obligations should not be viewed as an abuse of the legal system. Moreover, judge Lekhuleni emphasised that denying the subpoena would unduly harm the mother and the children, while the father would not suffer significant prejudice from its continuation. "As I see it, there is no prejudice that the applicant (father) will suffer if the subpoena is not set aside. While on the other hand, setting aside the subpoena will have deleterious effects on the first respondent (mother) and the children," he said. The father's application was dismissed. IOL News Get your news on the go, click here to join the IOL News WhatsApp channel.
The Citizen
11 hours ago
- Business
- The Citizen
Clarity sought on alleged R700m cost of National Dialogue
The Presidency's plan to hold a major National Dialogue in August is being criticised for its potential cost, lack of oversight, and uncertain agenda. The proposed National Dialogue has the potential to be another watershed moment for South Africa, as the Convention for a Democratic SA was in the early '90s. Picture: Gallo Images/Die Burger There are concerns about the lack of transparency around President Cyril Ramaphosa's proposed National Dialogue that is meant to take place in a few weeks. Ramaphosa said the country will hold the first leg on 15 August, with the second leg expected to take place next year. Local talks will be held before then. The purpose of this convention is to discuss South Africa's problems and find solutions to them. However, it has been met with anger following an announcement that it could cost more than R700 million. Unions and political parties call for accountability The government has stated that there is no definite figure yet. Congress of South African Trade Unions (Cosatu) spokesperson Matthew Parks said he is concerned about the abuse of state funds used for the National Dialogue. 'We can talk about figures like R10 million or R20 million, but R700 million is just ridiculous. 'Government can find ways of ensuring this is done in a manner that is more affordable. We just objected to a VAT hike, it would not make sense for us to agree to this,' he said. Conflicting statements over the proposed budget Parks said Cosatu had engaged with the Presidency and was reassured there is no final figure for how much the dialogue will cost. The amount of R700 million was first estimated by Nkosinathi Biko, executive trustee of the Steve Biko Foundation. ALSO READ: Ramaphosa announces 'Eminent Persons Group' to guide national dialogue – These are the people appointed 'Nothing has been tabled to parliament and Cabinet, so this is random ramblings from some officials and people from foundations,' said Parks. Questions about coordination and purpose Rise Mzansi spokesperson Mabine Seabe said: 'The touted R700 million price tag appears excessive, which is why Rise Mzansi will be engaging with President Cyril Ramaphosa on this matter and timelines both in the buildup to and after the National Dialogue. 'We will use our parliamentary oversight authority to ensure that every rand and cent is accounted for.' ActionSA parliamentary leader Athol Trollip said parliamentarians have not been given intricate details of how the National Dialogue will be coordinated. Presidency spokesperson Vincent Magwenya told SAfm this week: 'There isn't a budget, there isn't a number or a cost that the government has committed to. 'All we have is what has been communicated as a proposal that the foundations have put forward. 'Government is going to be the fiscal custodian of the process and it has not yet engaged in formulating a budget. So the debate about R700 million is completely misplaced and unnecessary.' Dialogue 'must be ambitious' Dr Philani Mthembu from the Institute for Global Dialogue said the dialogue, if done correctly, can be an important tool in addressing problematic legislation and policies. ALSO READ: 'Bring all to dialogue': Experts insist national dialogue must be people-driven 'If this dialogue is compared to the Convention for a Democratic South Africa, then it needs to be ambitious in what it is trying to achieve. 'For instance, we must ask if this will open up the debate on reviewing the constitution, what elements of the constitution are working and which need to be revised. 'This dialogue could discuss issues such as electoral reform and whether we are ready for new systems that will hold those in power to account. 'It has to be ambitious, otherwise if we just discuss issues such as national cohesion and service delivery, we already know these challenges. Discussing the deep issues will have more impact.' A noble idea? Advocate Sipho Mantula, a researcher at Thabo Mbeki African School of Public & International Affairs, said the idea of a national convention is a noble one. 'Conventions are normally called when there is a national crisis or key issues that affect the country, from governance to the rule of law to the socio-cultural and economic conditions.' Mantula said all state organs and institutions should assist in ensuring the success of the National Dialogue and no-one should be left behind. 'It should begin with local conventions and then provincial conventions that ultimately lead to the National Dialogue,' he said. NOW READ: 'A meaningless publicity stunt by a limping president': EFF slams Ramaphosa's national dialogue call
The Citizen
13 hours ago
- Business
- The Citizen
Youth month: Young creators get a spot on the wall in Joburg
Bianca Sampson hopes to give the next generation of artists an easier route than the one she had to gain recognition for their work. It is no secret that breaking into the art industry is difficult, but 41-year-old businesswoman Bianca Sampson is determined to give young artists opportunities she never had. 'I feel like creatives have this very closed hub. It's so hard to break through. You have to know the right person, or have enough money.' The owner of Neethling & Co has put art at the centre of everything she does. Walking into her store in Greenside, Johannesburg, you are immediately greeted by a gust of creativity and a whiff of coffee. The white walls are dotted with paintings, mirrors, and sculptures from local artists. Mannequins clothed and rails filled with unique designs share a space with tables where ideas and collaborations are born. It's a blank canvas that holds a new masterpiece every time you visit. This Sunday, she will host her first public exhibition, inviting a few young artists, including a saxophone player, a painter and more, to showcase their individual talents. It's an event that she hopes to host once a month. Finance Bianca dreamed of being a designer but couldn't afford the R20 000 to display her clothes in a store and R35 000 to have her designs modelled on a fashion runway. 'If you don't have the finances to go and exhibit in an art gallery, people don't look at you. That, for me, is unfair because there are such great artists out there, great designers, and amazing people 'As a designer, I would have loved somebody to offer me a space. So, I would like to give that to other young creatives, without the financial restrictions behind it.' ALSO READ: It's lekker, messy creativity and art Her contribution She hopes to give the next generation of artists an easier route than the one she had to gain recognition for their work. 'I would like to have a place for young artists, not only painters. I want designers, creative people, and young people to be able to bring me three garments and hang them up. So, when people walk into the store and they look at the art, nobody has to pay [for that exposure] because who knows, the next great painter could come out of my store and I would be so happy for that.' She and her team also advise and direct creatives on pricing and how to market their products. How you can help an artist You don't need a shop like Bianca to give creatives an opportunity. 'Just give them a space. If I go into a doctor's office and see a piece of art behind him, sitting on his desk, or somewhere, I'm the type to go, 'That's beautiful, where is it from?' 'Just give the creative a space, it can be a tiny one, and I promise you it inspires them to work harder.' NOW READ: The Art Lab: A space for collaboration, experimentation, and creativity at Nelson Mandela Square
The South African
a day ago
- Politics
- The South African
'Take drugs, tweet nonsense': Floyd Shivambu fires shots at Duduzile?
Without naming her, former MK Party secretary-general Floyd Shivambu took shots at his political party nemesis, Duduzile Zuma-Sambudla, whom he has accused of taking drugs. The shock comment was made during a briefing on Thursday, 19 June. In February, Duduzile was forced to apologise over her foul-mouthed X rant directed at Floyd. During the surprise briefing, Floyd Shivambu addressed several topics, including an interest in possibly establishing his own political party. The former MK Party Secretary-General also used the opportunity to making shady comments about being members of the ANC, which he claimed was 'run by scoundrels' and the EFF, which he labelled a 'cult'. Referring to his own party, Floyd Shivambu made a comment many believe was directed at Duduzile Zuma-Sambudla, the daughter of the founder, Jacob Zuma. He said, 'When you raise issues internally, you don't need to gossip about them anywhere. All the issues and concerns I had about MK, I raised internally, even against all odds. When there is an opportunity to raise an issue about wrongdoings. I clearly speak against untouchables who take drugs, tweet at night, and insult us.' He added: 'We confront them and say 'What is this about?'' In February, Duduzile apologised to MK Party members over an expletive-ridden X rant, in which she tagged Floyd Shivambu. In it, she called out Floyd for not being a founding member of the MK Party, which he joined after ditching the EFF. Floyd has since been stripped of his position as MK Party's Secretary General after he bragged about visiting Prophet Shepard Bushiri. Floyd Shivambu is not the only person who has hinted about Duduzile Zuma Sambudla's alleged drug use. The X account @Goolam – known for its controversial political views – claimed that Dudu was known as a 'party animal' and frequented Posting about her bitter 2017 split from husband Lonwabo Sambudla, the account tweeted: 'She lives in a house worth R20 Million. She lives an extremely extravagant lifestyle. The 42-year-old Duduzile is a regular fixture at top nightclubs around Sandton. She is a party animal. 'She allegedly spends hundreds of thousands of rands at these venues ordering bottles of champagne and other alcoholic beverages. Many allegations of her and cocaine, but that's a story for another day'. In 2021, Duduzile Zuma-Sambudla was accused of encouraging the July unrest, where properties and stores around the country were looted, vandalised, and torched. During the period, over 70 people are reported to have died in violent confrontations. The daughter of the former president retweeted several videos of the violence, which was a direct reaction to her father's incarceration on contempt-of-court charges shortly before. Floyd Shivambu and Duduzile Zuma-Sambudla in happier times. Image via X: @floydshivambu Duduzile was later charged with contravening the Protection of Constitutional Democracy against Terrorist and Related Activities Act (POCDATARA) and incitement to commit violence. She will appear in the Durban High Court again on 14 August. Let us know by leaving a comment below, or send a WhatsApp to 060 011 021 1 . Subscribe to The South African website's newsletters and follow us on WhatsApp , Facebook , X, and Bluesky for the latest news.
