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Sat May 26 14:05:15 SAST 2012

Khulubuse Zuma ordered to pay R10m

PERTUNIA RATSATSI | 13 January, 2012 00:1443 Comments
Khulubuse Zuma. File photos Picture: JACKIE CLAUSEN

Three days before he is expected to testify in the liquidation inquiry of his beleaguered Aurora Empowerment Systems, Khulubuse Zuma has been ordered to pay more than R10-million to one of the company's creditors.

Zuma, a nephew of President Jacob Zuma and a director of Aurora - along with Zondwa Mandela, grandson of former president Nelson Mandela - signed a surety agreement for Aurora and must therefore pay the money owed to the Protea Coin Group from his own pocket.

The high court order was made in Pretoria on Wednesday in terms of an out-of-court settlement between the companies.

Protea Coin, which provided security services to Aurora at its Grootvlei mine, in Springs, applied for a liquidation order against the embattled miner on May 26 2010 after Aurora failed to pay it.

The settlement was made an order of court on July 28 2010.

Aurora undertook to pay Protea Coin R250000 on July 28 2010 and R1-million on August 6 2010. But it failed to do so.

Aurora also undertook to pay the balance of R11189596 with interest by September 3 2010. The parties agreed that R12439596 was owed to Protea Coin.

On October 12 2010, Zuma signed surety for Aurora, promising that the company would pay its debts. The surety was to remain in force until Protea Coin was paid.

Desperate for payment, Protea Coin turned to the high court on Wednesday to force Zuma to pay. The court ruled in its favour.

Yesterday, Zuma's attorney, Ahmed Amod, said he was unaware of the order.

"I haven't spoken to my client for some time," he said.

Zuma was not available for comment yesterday.

Aurora is at present involved in a pre-liquidation inquiry in connection with its failure to pay creditors.

Johan Engelbrecht, one of the liquidators, said Pamodzi Gold was expected to claim up to R1.7-billion in damages from Aurora.

The money owed by Aurora is believed to be in the region of R100- million.

In December, Gideon du Plessis, deputy general secretary of trade union Solidarity, said Aurora made about R127-million from the sale of Grootvlei and R48-million from selling equipment and scrap.

Aurora has not paid many of its workers for more than two years.

In December, the Sunday Times reported that Zuma had bought his fiancée, Fikisiwe Dlamini, a 2009 silver Maserati.

The cars sell for between R1-million and R1.6-million.

It was presented to her at Durban's five-star Oyster Box hotel, to which Zuma is a regular visitor.

Both Zuma and Mandela have been accused of delaying the company's pre-liquidation inquiry.

Zuma was expected to give testimony about his role in the alleged plundering of the mines on December 9 but he asked for a postponement because, he said, he had appointed a new legal team.

In September, Zuma said he wanted to testify in Zulu and a translator had to be found.

In November, he did not appear, claiming that he was ill and was suffering from complications related to his obesity.

Mandela failed to appear "without a reasonable excuse" on December 8. This led to the liquidators of Pamodzi Gold preferring criminal charges against him.

Engelbrecht said they would pursue Mandela's criminal case on Monday.

"We are definitely proceeding with criminal charges against him."

Engelbrecht said Mandela would be required to testify in a magistrate's court, which would have the power to order his arrest if he failed to appear.

Du Plessis said he appreciated the effort made by Protea Coin and encouraged other creditors to do the same.

"Aurora directors always thought they were untouchable. Should Zuma fail to pay the money, Protea Coin must pursue the matter and press more charges.

"If he can afford to buy his fiancee an expensive car, he can pay his debts," said Du Plessis.

Engelbrecht said the Protea Coin case would not affect the liquidation process.

"This was why Protea Coin withdrew their security services on the East Rand and we insisted that Aurora hire Fidelity Security to guard the mine." - Additional reporting by Mhlaba Memela

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Khulubuse Zuma ordered to pay R10m

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COMMENTS [43]

Timbuktoo

Posted 134 days ago
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"Ah em pekkish.... please fetch me 3 shickens"..............!!!!!
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1tsotsi

Posted 134 days ago
I think a shichen is his snack in between his meal( full goat) per day, m sure if he wants to see his pipi he use a mirror
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GregQuinn

Posted 132 days ago
Tsotsi, he needs mirror then magnifying glass..

MisterWendal

Posted 134 days ago
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Can't understand Fat Albert's obsession with luxury sports cars - surely supersized Hummers and the like are more suitable for transporting bulk goods?
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Timbuktoo

Posted 134 days ago
This is one dude that "WILL HURT" a Toilet.... Truely Punish it!
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Timbuktoo

Posted 133 days ago
40 MEALS AHEAD............. and 80 "DUMPS" BEHIND!

Timbuktoo

Posted 134 days ago
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Saw him in Durban once.... behind the wheels if that SLS...must admit looked rather uncomfortable... has apparently sold it since.... SLS cabin is to tiny for that OBESE FRAME!!!

They should give him a Wheel-Barrow to cart his GUT around....
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1tsotsi

Posted 134 days ago
He needs a donkey kart as a wheel-barrow who can push this elephant?

King_Biko

Posted 134 days ago
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Zuma is not the failure for Aurora mine it was the management who was runing the day to day operations. He is just a mere shareholder on a deal that went sour! Why are they being persecuted is mind boggling? To me this is just driven by hatred for his uncle! Whatever happens the workers must be first to be paid before the Protea Coin Group who run the monopoly in the security industry!
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ooooooooo

Posted 134 days ago
This comment clearly show your lack of intellectual capacity. You have no idea how companies function. It would also be futile to try and educate you because of the lack of intellectual capacity. The ANC is cluttered with people like you and therefore it fails this country every single day.
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BobbyBob

Posted 134 days ago
No dude, you got it wrong. Zuma and co, stripped the mine, they sold its infrstructure and put the money in their pockets. It's nothing new really, on a political level, Mobutu Sese Seko did that ( made him rich, destroyed the nation ). Chavez in Venezuela through nationalisation now has a personal kitty making him and his cronies wealthy and bringing misery to the Venezuelan people...

Such persons must be held accountable, and any sanction must serve as a disincentive to others.
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LouLou

Posted 134 days ago
The only thing I agree with in your comment (the rest is absolute drivel) is that the workers MUST be paid.
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Scribbles

Posted 134 days ago
King_Biko,

Please don't lie, it's unbecoming. Khulubuse is not a "mere shareholder", he's a director along with Hulley and Mandela. This makes them directly responsible for the company and all it does. It also makes them accountable to other shareholders (if any) who may have placed their faith in Aurora.

On a slightly different topic. I've noticed you often defending the ANC to a fault King_Biko, usually through blatant lies and misinformation and I'm tempted to ask what you're trying to achieve on TheTimes. Are you a paid ANC deployee (here to spout the party line), someone seeking to constantly play devil's advocate, or are you simply the type of person who picks a party and decides then and there that they can do no wrong?
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RogueTrooper

Posted 134 days ago
You just can't spewing the party (read: communist) rhetoric can you...must be lonely up there in Lalaland hey!
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Thoth

Posted 134 days ago
I was about to write a long tutorial of how corporate governance works from the perspectives of the companies act, common law and king 3 but well I don't want to waste ink. I suggest you firstly read the standard 7 (grade 9) business economics textbook.
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shelatt

Posted 133 days ago
If you think that FatBoy Zuma (FBZ) had no idea what was going down in his company then you are as stupid as he is. The fact that it was headline news also shows your ignorance. Why don't you just disconnect from the internet completely and go farming. At least we will not be subjected to your ignorance which reminds us of the stupid people that keep the Absolute National Corruption in power.

You are such a brainwashed sheeple of the Absolute National Corruption propaganda machine....it's your vote that keeps the idiots running this country. This is one of the despairing stories that are out there in the print world that depress people. EEEISHHHH!!!

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DerekGerber

Posted 132 days ago
Fidelity also used workers to do the job, and they also need to get paid!

1tsotsi

Posted 134 days ago
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Saw this man with a 16 year old girl in cubana club, damn!!!! HIS FAT, and when he breaths you can hear him miles away.
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motho.batho

Posted 133 days ago
He bought his gal a Maserati, what about you? 1tsotsi, is your gal rollin', if so, with what?
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Timbuktoo

Posted 132 days ago
Gives a new meaning to those "Yo MAMA is so Fat..." jokes....

In this case, "YO NEPHEW IS SO FAT.............."

Mercenary

Posted 134 days ago
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Why does The Times publish news found in US and western media without question but refuses to publish news directly from Iranian, Syrian, Afghanistan, Cuban, Sudan etc media? Don't see how the US only can be experts on whats happening in Iran or Sudan etc

Time, how about you let readers make up their own mind and publish both sides of the story, instead of spewing western nonsense which has been found guilty of publishing false information by many even its former presidents
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RogueTrooper

Posted 134 days ago
Sense much...try that again you plonker. In order to participate in a debate you should at least TRY and make sense...
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Mercenary

Posted 134 days ago
Let me break it down for you my nag trooper, Times publish only western media report on regions in turmoil, why Times not publish news from regions themselves. Times only giving one point of view and by so doing it pushes one agenda. Sorry only people with knowledge on the issue would have understood my comment.
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Smeegen

Posted 134 days ago
So you'd believe the propagandist rubbish spouted by Al Queida, over the reports from independant news agencies.
Funny how they all report the same story, regardless which country hosts the site... must be an international conspiracy against mickey mouse third-world rat holes which protect recognised terrorist organisations.
You are the missing link... Goodbye!
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Mercenary

Posted 134 days ago
As said before only those with knowledge will know what im talking about, the world had 5 major news agencies and most countries including SA sources international coverage from these houses. Last i checked Al Qaeda (notice the correct spelling) did not have an established publishing house numb nut im talking about reputable media house based within the countries or turmoil themselves,unless what you saying is that only western countries have credibility lol to which i respond HAHA poor numb nut.

By the way the US has acknowledged fabricating over 943 lies which led to the 2003 invasion of Iraq, meaning people like you were dooped my western media and The Times report after report...but yeah im the weakest you make as much sense Obama being re-elected for a 2nd term.

Nako

Posted 134 days ago
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@king biko:ohhk he is a share holder...but is the times or the "media" not aware of that and if they are..eh waite a minite why are they...leing to the public?...oh my God this it the information of bill were fighting for.

so it helps to think..ohhhhhhky!

Mike123

Posted 134 days ago
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Shame! Jabba the Hut will have to sell his wife's new car to pay the bill.

samsam

Posted 134 days ago
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umdokwe phela lomuntu

Thoth

Posted 134 days ago
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This gives us a rare priviledge to take a glimpse into the future, a future of South Africa Nationalised. Here is a perfect case study as to why nationalisation won't work. It will destroy our economy; as creditor's and employees' claims will go unpaid. Nationalisation can only work in a properly functioning moral society.

Our courts should not be turned into a joke by letting these con artists to evade justice, I don't care what surname they carry around to swindle money from people, justice needs to be done.

rahima

Posted 134 days ago
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When he lies on his side in bed, his other body lies next to him. LOL.
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swona1

Posted 134 days ago
which other body, the thingy must have been swallowed by fats, he searches for it when he wants to release water!

swona1

Posted 134 days ago
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this bloke is soo fat, wonder if he's got a girl friend, if he's got, she after the name, he cant do anything to her!
giving idiots business oportunities for their connections does not help, here is prove people! he cant handle to run a small mine with less 2000 people, I wish I was a zuma, I ran a department and now an enterprice!

Nako

Posted 134 days ago
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@swona1:I wish I was a zuma, I ran a department and now an enterprice!:: ::

lol swona this is business and its no longer run like it used too...these days a business gets hi-jacked

Rudy

Posted 134 days ago
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No sculduggery pens out below the 100-mill mark. The fat cat brigade is siphoning off more money than the Oppenhaeimer Dynasty amassed during three generation of hands on the wheel working, dealing and trading. Brilliant!
Order your bumper sticker "It sucks to be poor". For ANC big wigs, kin, ilk and other cronies only. Also available in small gold print to suit Ferrari and Porsche.

swona1

Posted 134 days ago
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i want to comment on all stories, why do the times choose for us which story was must commentand not?
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Mercenary

Posted 134 days ago
swona1 myself and other have been asking the same thing for many moons now and The Times has been more restricting comment more and more especially on International news.
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GregQuinn

Posted 132 days ago
Yeah good point. It doesn't make sense.

Also the commenting system sucks. You need to click and have the page refreshed 3 times just to get back to where you were in the comments originally. I mailed them about this but no response.

AnotherTaxPayer

Posted 134 days ago
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It's even sickening to think that he did not pay the security firm to look after the mine. He used excuse after excuse to stall the process so he can hold onto his money longer. Then to have the audacity to display his wealth in such a public way as to buy another sports car is really poking a lion with a sharp stick. In some corners of the world he would have worn some cement boots long time ago. But in his case a simple push in the right direction would be more than sufficient.

Feelgood

Posted 133 days ago
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Many of those people have moved all of their assets out of the country and it will be hard to collect money from K. Zuma. This is not just happening in SA but, many countries like the US. Instead of writing a media law the ANC should be writing laws to protect the investors and workers from fraud like this. I am surprised that the court didn't freezed the bank account of these two dudes to force them to settle their debt.

GregQuinn

Posted 132 days ago
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Why is the security company paid first but not yet the workers?
My only guess is they had better lawyers and more legal money to follow this up with.

Either way these workers need to be paid, I feel for them.

Fabio

Posted 132 days ago
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This idiot is apparently too obese and sick to attend legal inquiries regarding his crooked involvement in businesses, but he is healthy enough to go to Cape Town to attend new year's parties, he's healthy enough to try and have sex with his fiancee for whom he just bought an Aston Martin, and he is healthy enough to drink copious amounts of alcohol, and healthy enough to smoke Cuban cigars. This is a prime example of how sick this society has become. This man is nothing but a piece of rubbish with no respect for the people he screwed out of millions, a conscious-less moron, who should be the "mampara" of the year.

Feelgood

Posted 131 days ago
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What one sees going on in SA with Zuma's nephew is not unique to just SA. In the US the same thing is going on with people striping companies of their assets and many people are losing their pensions and jobs. The legal syhstem is setup so criminal charges can't be brought against these people.