Company owned by Vavi’s wife allegedly owes Standard Bank R14m

A judgment handed down at the North Gauteng High Court recently shows Standard Bank wanted to liquidate Zwelothando Minerals and Resources, a company owned by newly appointed Saftu secretary-general Zwelinzima Vavi’s wife, Noluthando.

The company has allegedly failed to settle its liability despite arrangements being made between the two parties. Now the debt amounts to R14 million, reports The Sowetan.

The bank then lodged an urgent application that Judge Elizabeth Mamoloko Kubushi dismissed, saying the company failed to put a solid argument for the matter to be heard urgently.

Kubushi would hear the matter at a later stage, further pointing out that Zwelothando would also oppose Standard Bank’s main application.

Also read:

//