Springbok rugby legend and television presenter Naas Botha’s estate was sequestrated by the Pretoria High Court on Wednesday.
Botha was provisionally sequestrated in May and given until June 15 to give reasons why he should not be sequestrated.
Botha failed to make any representations and‚ on Wednesday‚ Judge Peter Mabuse finally sequestrated Botha.
Botha has been involved in a six-year financial battle with Nedbank over an amount of R1.1 million due on a mortgage bond for a property in Mooikloof‚ east of Pretoria.
His wife Karen‚ had obtained the bond in January 2006 to buy the property‚ and Botha signed surety for it.
The property was subsequently sold for an amount which was not enough to repay the full loan amount. The couple then fell behind on payments.
The sequestration means Botha is insolvent and his assets are vested in the hands of the Master of the High Court until a trustee is appointed.
- TMG Digital
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