Former President Jacob Zuma. Picture: Karen Sandison/African News Agency(ANA)
Former President Jacob Zuma. Picture: Karen Sandison/African News Agency(ANA)

VBS liquidators go after Zuma’s Nkandla home, but not clear how they will attach it

By Sihle Mavuso Time of article published Sep 11, 2019

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Durban - While still reeling from the Derek Hanekom legal blow of last week, former President Jacob Zuma is now facing another court battle from the liquidators of the Venda Building Society (VBS) mutual bank.

This is as the liquidators are gunning for Zuma to pay back over R500 000 in arrears after he defaulted in his R68 000 monthly installment for the better part of last year.

In September 2016, the bank loaned Zuma R7.8 million which was needed to pay the state after former Public Protector, Advocate Thuli Madonsela ruled that some of the security upgrades at the former president's Nkandla home were not supposed to be paid for by the state. She then ruled that Zuma should refund the state.

In the court papers that were leaked on social media on Tuesday evening, the liquidators have since taken Zuma to the Pietermaritzburg High Court to force him to cough up the money. In the court case, they also included the Ingonyama Trust which administers the Nkandla land where the multi-million home is located.  

Picture: Zanele Zulu/African News Agency(ANA)

However, it remains to be seen how the liquidators will attach the home should Zuma fail to pay because it is located in a land owned by Ingonyama Trust which only issues permission to occupy, not title deeds.   

It was not immediately clear whether Zuma and the Ingonyama Trust will oppose the court action or not.

Political Bureau

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