Malema to oppose bankruptcy application
Expelled ANC Youth League president leader Julius Malema will oppose a SA Revenue Services (Sars) application for his sequestration, his lawyer has said.
“I can confirm that we have been instructed to oppose the application,” said Nicqui Galaktiou today.
According to papers filed in the North Gauteng High Court this week, Malema owes Sars R16 million and is “factually insolvent and in no position to make payment of his indebtedness to Sars”.
Sars reportedly said in the paper discrepancies in Malema’s representation of his net assets were not conducive to concluding that he had made a full and frank disclosure, and supported its contention that “it would be to the benefit of Malema’s creditors to sequestrate his estate”.
If the application succeeded, all Malema’s properties – including his house in Sandton, and his house, smallholding and farm in Limpopo – would be placed under curatorship and auctioned to cover his debts.
The hearing is scheduled for February 27.