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Kaizer Chiefs Bobby Motaung may be compelled to pay back R10m

Kaizer Chiefs' Bobby Motaung might need to take care of the R10 million he got for his exchanged firm as the vendors will not perceive the deal to GRC Property.

BOBBY MOTAUNG'S R10 MILLION PROBLEMS

Sunday World has detailed that Kaizer Chiefs supervisor Bobby Motaung might be compelled to repay nearly R10 million to a Joburg organization, that purchased his destined to-be sold organization on the grounds that the outlets are declining to perceive the offer of the understanding.

GRC Property Investment has supposedly documented papers with the Johannesburg High Court, where it's mentioning the court to save a liquidation request against Motaung's organization - Lakeshore Trading 224.

It is perceived his organization claims the shopping complex in Ormonde arranged close to Gold Reef City - south of Johannesburg.

The venture organization needs Motaung organization to be rejected last liquidation or pay back the cash.

The distribution adds that GRC Property Investment's chief Ahmed Talia Nazir says he purchased the shopping complex in 2016, preceding it was put under liquidation by another organization called Pent Up.

Motaung allegedly claimed Pent Up R2.5 million then Nazir set Lakeshore Trading 224 under liquidation in 2017, after Motaung neglected to take care of the R2.5 million credit.

MORE FINANCIAL WOES FOR THE KAIZER CHIEFS BOSS

Ahmed Talia Nazir likewise let the distribution know that they additionally had a case against Bobby Motaung's organization, since it purchased the complex for R9.5 million and paid everything before his organization was set under liquidation.

Nazir likewise adds the complex had anyway not been moved into his organization's name, when it was put under liquidation by John Francois Engelbrecht and Gunvantrai Muggai who were designated as vendors.

The financial specialist says he needs the R9.5 million from the organization as the outlets neglected to comply with the deal.

The Kaizer Chiefs supervisor then sold his portions at Pent Up where he was the sole chief.

Motaung couldn't be gone after remark when the Sunday newspaper reached him for a remark.

Source: The South African

Content created and supplied by: Nelow (via Opera News )

Ahmed Talia Nazir Bobby Motaung GRC Property Investment Johannesburg High Court Pent

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