Majali liquidators do battle

22 February 2012 - 02:34 By KHETHIWE CHELEMU
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Sandi Majali
Sandi Majali

More than a year after the death of controversial businessman Sandi Majali, liquidators of his two companies are far from winding up his multimillion-rand estate.

Yesterday, Johannesburg High Court judge, Collin Lamont, ordered the attorneys representing Tshozi Investments to provide documents to theliquidators of Majali's other company, Imvume Resources, within 10 days.

Lamont ordered Tshozi Investments liquidators to pay the costs of this application.

The two sets of liquidators have been at odds over Majali's shares, which are worth R130-million.

The businessman was found dead in a hotel room in December 2010.

A trial date between the two sets of liquidators has been set down for October.

Imvume was liquidated in December 2009 and Tshozi in April last year.

Imvume's liquidators launched an urgent application in the Johannesburg High Court last year to prevent Tshozi disposing of 85% of the total issued share capital in Siyanda Mining that Majali acquired in 2003.

They successfully obtained an order interdicting Tshozi from proceeding with a tender inviting bidders for the company's shares.

According to Imvume's liquidators, their rival liquidators' failure to furnish them with discovery affidavits, in accordance with the rules of the court, had prejudiced the Imvume liquidators' preparations for trial.

In a different court yesterday, Judge Neels Classen unconditionally postponed a court application by Majali's estate against Siyanda C Investments.

The estate seeks shares from Siyanda Mining, which Majali acquired through Lindani Mthwa, an Imvume director since 2003.

But Imvume liquidators dispute this claim and describe the shares as a sham.

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