Motaung opens up on Amazulu Chiefs comments

Kaizer Chiefs’ Bobby Motaung may be compelled to pay back R10m. image: Diski365.com

Kaizer Chiefs’ Bobby Motaung may be compelled to pay back R10m

Kaizer Chiefs boss Bobby Motaung may be forced to pay back R10 million to a Johannesburg company that bought his liquidated company.

Motaung opens up on Amazulu Chiefs comments

Kaizer Chiefs’ Bobby Motaung may be compelled to pay back R10m. image: Diski365.com

Kaizer Chiefs’ Bobby Motaung may have to pay back the R10 million he received for his liquidated firm as the liquidators refuse to recognise the sale to GRC Property.  

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BOBBY MOTAUNG’S R10 MILLION PROBLEMS   

Sunday World has reported that Kaizer Chiefs boss Bobby Motaung may be forced to pay back almost R10 million to a Joburg company that bought his soon-to-be liquidated company because the liquidators are refusing to recognise the sale of the agreement.  

GRC Property Investment has allegedly filed papers with the Johannesburg High Court where it’s requesting the court to set aside a liquidation order against Motaung’s company – Lakeshore Trading 224.  

It is understood his company owns the shopping complex in Ormonde situated near Gold Reef City – south of Johannesburg.   

The investment company wants Motaung company to be refused final liquidation or pay back the money.  

The publication adds that GRC Property Investment’s director Ahmed Talia Nazir says he bought the shopping complex in 2016 before it was placed under liquidation by another company called Pent Up.  

Motaung reportedly owned Pent Up R2.5 million then Nazir placed Lakeshore Trading 224 under liquidation in 2017 after Motaung failed to pay back the R2.5 million loan.   

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Ahmed Talia Nazir also told the publication that they also had a claim against Bobby Motaung’s company because it bought the complex for R9.5 million and paid the full amount before his company was placed under liquidation.  

Nazir also adds the complex had however not been transferred into his company’s name when it was placed under liquidation by John Francois Engelbrecht and Gunvantrai Muggai who were appointed as liquidators.  

The businessman says he wants the R9.5 million from the company as the liquidators failed to abide by the sale.  

The Kaizer Chiefs boss then sold his shares at Pent Up where he was the sole director.

Motaung could not be reached for comment when the Sunday tabloid contacted him a comment. 

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