Citizen Reporter
Reporter
1 minute read
24 Apr 2017
1:20 pm

Company owned by Vavi’s wife allegedly owes Standard Bank R14m

Citizen Reporter

The bank's urgent application was dismissed, as it failed to put a solid argument for the matter to be heard urgently.

Zwelenzima Vavi briefs media ahead of the launch of a new South African Federation of Trade Unions at the Birchwood in Boksburg, 20 April 2017. Picture: Neil McCartney

A judgment handed down at the North Gauteng High Court recently shows Standard Bank wanted to liquidate Zwelothando Minerals and Resources, a company owned by newly appointed Saftu secretary-general Zwelinzima Vavi’s wife, Noluthando.

The company has allegedly failed to settle its liability despite arrangements being made between the two parties. Now the debt amounts to R14 million, reports The Sowetan.

The bank then lodged an urgent application that Judge Elizabeth Mamoloko Kubushi dismissed, saying the company failed to put a solid argument for the matter to be heard urgently.

Kubushi would hear the matter at a later stage, further pointing out that Zwelothando would also oppose Standard Bank’s main application.

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