The ANC says it has reached an out-of-court settlement with Ezulweni Investments, which had earlier this month threatened to attach the party’s assets.
In a terse statement on Friday, party spokesperson Mahlengi Bhengu-Motsiri said: “The African National Congress confirms that it has settled out of court with Ezulweni Investments.
“The matter has been resolved in the best interest of both parties.”
It was revealed last month the ANC faced liquidation after its failure to pay its debt to the KwaZulu-Natal based printing and marketing company that supplied it with election campaign material in 2019.
Previously Ezulweni applied to seize assets worth more than R102m from the ANC after the party refused to pay it despite two judgments in the company’s favour, one handed down in September 2020 and an appeal heard by a full bench of the Johannesburg high court in June 2022.
The Supreme Court of Appeal upheld a decision of the Gauteng High Court last month, which the party initially said it would appeal to the Constitutional Court.
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ANC says deal reached on billboard debt with Ezulweni Investments
Image: Thapelo Morebudi/The Sunday Times
The ANC says it has reached an out-of-court settlement with Ezulweni Investments, which had earlier this month threatened to attach the party’s assets.
In a terse statement on Friday, party spokesperson Mahlengi Bhengu-Motsiri said: “The African National Congress confirms that it has settled out of court with Ezulweni Investments.
“The matter has been resolved in the best interest of both parties.”
It was revealed last month the ANC faced liquidation after its failure to pay its debt to the KwaZulu-Natal based printing and marketing company that supplied it with election campaign material in 2019.
Previously Ezulweni applied to seize assets worth more than R102m from the ANC after the party refused to pay it despite two judgments in the company’s favour, one handed down in September 2020 and an appeal heard by a full bench of the Johannesburg high court in June 2022.
The Supreme Court of Appeal upheld a decision of the Gauteng High Court last month, which the party initially said it would appeal to the Constitutional Court.
TimesLIVE
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