‘The indebtedness as it currently stands at the end of January 2024 is in the sum of over R4.3-million,’ reads an affidavit from Costa Couremetis.
Kaizer Chiefs football manager Bobby Motaung is subject to court papers aiming to have his estate sequestrated, according to a report from sundayworld.co.za.
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The news website reports that Pent Up Investment CC have filed papers in the Johannesburg High Court, with the company’s boss Costas Couremetis claiming Motaung still owes him over R4.3 million with regards to a property deal.
‘indebtedness’
An affidavit submitted by Couremetis claims that Motaung has not paid almost half of the R9 million that he was ordered to pay in November 2009.
“Pursuant to a failure by Lakeshore (Motaung was listed as the sole director of Lakeshore Trading) to make payment of the purchase price for the property in full, the applicant instituted proceedings in the above honourable court and obtained judgment on or about November 12, 2009 in a sum exceeding R9-million, plus interest and legal costs,” read the papers.
“The indebtedness as it currently stands at the end of January 2024 is in the sum of over R4.3-million.
“In fairness to the respondent, he has not sought to dispute the indebtedness since the judgment was granted against him. However, he has clearly not been able to pay the full sum, as and when it was due, even after having been given various reasonable and generous indulgences over many years.
“The respondent has over all of these years lived a very opulent lifestyle, driving a Bentley motor vehicle; owning and living in a large immovable property in a very prestigious area, namely Houghton; wearing very expensive clothing and different, very expensive watches at our various meetings and generally portraying the image of a very successful businessman, who is extremely well off; and who occupies a considerable position in the eyes of society, throughout South Africa, by virtue of the prominent position which he occupies at Kaizer Chiefs Football Club.”
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This is not Motaung’s first brush with the law. In 2016 a five-year long fraud and corruption case in which he was implicated, with regard to the building of Mbombela Stadium, was struck off the roll due to insufficient evidence.
Tax bills?
According to the Sowetan Live, Motaung was also slapped with a R44.7 million tax bill by the South African Revenue Service (SARS) in June 2016.
In September 2021, the Sunday World also reported that SARS had asked liquidators to recover R90 million owed to them by a company in which Motaung was one of the directors.
