After six years of legal wrangling, the liquidators of Pamodzi Gold mines and Aurora Empowerment Systems have finally seen cash as Khulubuse Zuma, Jacob Zuma’s nephew, reached a settlement to pay R23 million.
Aurora took over from the provisional liquidators of Pamodzi Gold in 2009, but failed to raise funds to pay for them. Assets were stripped and the mines closed.
Khulubuse was scheduled to have paid R5.5-million by the end of yesterday, and will finish paying off the amount in 52 months.
“This is victory for the workers, and rule of law. At one stage we had lost confidence in the rule of law,” said Gideon du Plessis, general secretary of the union Solidarity.
While Zuma reached a settlement, four other Aurora directors – Solly, Fazel and Zubeida Bhana, and Yaseem Theba – were sequestrated yesterday, after failing to pay their R5.9-million damages agreement.
Advocate John Walker, for the liquidators, said sequestration meant their personal finances would be scrutinised and the information could form part of a criminal investigation .
Walker said that if Zuma missed his payment tranches he too could face sequestration and could be liable for at least R122-million.
After the initial payment of R5.5-million, Zuma must pay a further R16-million in monthly payments of R500,000.
The final R2-million is to be paid in R100,000 monthly payments.
Du Plessis said R5-million of the R23-million would pay for legal fees. The balance would be divided up.
“We are hoping that all the creditors will withdraw their claims, allowing for the miners to be paid,” Du Plessis said.
He added that in the six years since the mine’s closure, many of the miners had left or had died.
One of the miners, Terra Ndimane, said yesterday he and other miners would be marching on the Master of the High Court in Pretoria because they were waiting on the liquidators to pay them.
“They scrapped the mine. We don’t know anything,” Ndimane said.
Source: Times Live