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Court to rule on ‘rehabilitation funds’ of Gupta companies

Town Press
Last updated: May 31, 2018 9:32 am
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Town Press
May 31, 2018
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An application by the trustees of the mining rehabilitation funds of two Gupta-owned companies will be heard in the North Gauteng High Court in Pretoria.

The trustees want the court to reverse the attachment of about R1.7 billion by the Asset Forfeiture Unit (AFU).

In March, the same court ruled that funds in the Optimum Mine and Koornfontein Mine Rehabilitation Trusts must be transferred from the Bank of Baroda to Nedbank for safekeeping‚ with interest.

The money is to stay with Nedbank until a forfeiture order is granted.

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TAGGED:GuptasNorth Gauteng High Court in Pretoria
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