Friday, 22 November 2019 18:57

The Supreme Court of Appeal (SCA) has ruled that African Global Operations, formerly known as Bosasa, is commercially insolvent and should be liquidated.

SCA Judge Malcolm Wallis delivered a scathing judgment, just seven days after hearing the matter, overturning the March 2019 Gauteng High Court order in Johannesburg that set aside the appointment of liquidators, Cloete Murray, Ralph Lutchman and Tania Oosthuizen.

Wallis was scathing of the Bosasa board's attempts to remove the company from voluntary liquidation and of Acting Judge Joolam Ameer's judgment in the High Court.

He found that acting judge Goolam Ameer ignored crucial information in two of liquidator Cloete Murray's reports that directly contradicted claims by Bosasa chairman Joe Gumede in his founding affidavit.  

The SCA ordered that the appeal by the liquidators should be upheld with costs.

An advertisement on the website of liquidators Sechaba Trust, which is run by Cloete Murray, claimed that items including late Bosasa CEO Gavin Watson’s metallic blue BMW X5 would be going under the hammer along with numerous vehicles, office furniture, catering equipment, workshop and gardening tools, computer equipment, security equipment, office furniture, household furniture and several properties.

The properties included the controversial Lindela Repatriation Centre, as well as the company’s head office and copper plant.

A viewing was advertised for December 3 from 9am to 3pm.