Malema insolvent, SARS tells court

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IOL news oct 20 malema oct 11 REUTERS An engineering company, in which former ANC Youth League president Julius Malema hold shares through his family trust, cannot apply for state tenders for five years, according to a report. File photo: Reuters.

Johannesburg - The South African Revenue Service (SARS) has applied to have former ANC Youth League leader Julius Malema sequestrated, a report has said

City Press said that according to papers filed in the North Gauteng High Court on Wednesday,

Malema owes SARS R16 million and is “factually insolvent and in no position to make payment of his indebtedness to SARS”.

Malema is reportedly meeting his lawyers on Thursday to decide whether or not to oppose the application.

If the application succeeds, all Malema’s properties - which include both his houses in Sandton and Polokwane, a smallholding and farm - would be placed under curatorship and auctioned off to cover his debts, City Press said.

The hearing is reportedly scheduled for February 27. - IOL

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