Fidentia curator Dines Gihwala has admitted destroy in an acrimonious statutory Donnybrook with a Swiss company, whose claims against him he once dismissed as baseless and aimed at humiliating him. Gihwala, who has acted for Finance Minister Trevor Manuel and provided permitted warning to Dr Frene Ginwala on axed prosecuting climax Vusi Pikoli's well-being to hold office, has conceded to every only insist made against him by Swiss-based investment administration resolved Montague Goldsmith. He had earlier described the company's application as an tongue-lashing of the legal process and asked for it to be dismissed. Gihwala is also skin a possible defamation ask from Montague Goldsmith's outstanding executive Karim Issa Mawji, who Gihwala suggested was racially parochial and described as "insulting, litigious and rude". According to a Cape High Court direction given by Acting Judge President Jeanette Traverso, Gihwala now has to specify a affirmation of recital showing what he did with the R4-million that Montague Goldsmith deposited into his firm's confide account.
The chairperson of the Independent Regulatory Board for Auditors also has to delivery to Montague Goldsmith a 31 percent split in a frowning monetary empowerment deal said to be quality about R234-million. Gihwala a while ago insisted the Swiss troop was not entitled to the shareholding. Court documents make known that it was Gihwala's repute in the legal and business community that prompted Montague Goldsmith to repay about R4-million to the dependability account of legal house Hofmeyr Herbstein & Gihwala, of which Gihwala is chairman, for investment by Gihwala and businessman Lancelot Manala. Mawji stated in court papers that the group had become a union shareholder with Gihwala and Manala in a entourage called Seena Marena Investment (SMI) in renewal for R4-million in funding. In 2005 SMI brought a 58 percent shareholding in Ngatana Property Investments, the empowerment agency investing in Spearhead Property Holdings.
After Spearhead was later sold to listed possessions accommodation stock up institution Redefine Income Fund, shareholders were offered 6,18 Redefine units for one Spearhead module - a significant rake it in on their investment. A month before this takeover press was announced, according to Mawji, Gihwala disputed Montague Goldsmith's shareholding cut in SMI for the inception beat by claiming that the loot invested by Montague Goldsmith was a advance to Manala and nothing more. Gihwala later claimed that it was "impossible" for Mawji or his companies to have become shareholders as they were not historically disadvantaged South Africans.
He later falsely deserted that settle by agreeing to the Cape High Court settling order. Montague Goldsmith had also gone to court to potency Gihwala to accord details of two investments intended to be made by Gihwala on their behalf in Scharrig Mining Limited (now known as Sentula Mining Limited), a South African suite listed on the JSE. The incipient investments, one of R1-million and the other R10-million, were repaid to Montague Goldsmith.
The repayment included some bring on the R1-million investment But the caller claimed that it was not discerning whether the investments were indeed made and, if they were, what had happened to the enlist they had accrued. Claiming that the company's effort was unfounded, Gihwala hitherto argued that it was "nothing other than an take on to torment and disgrace me". Montague Goldsmith's attorney Vlad Movshovich said Gihwala had provided his patient with some documents kindred to the investments, but these were "wholly inadequate".
It was not disburden if the investments, of R1-million and R10-million, were made. Read the sentimental history in today's editions of newspaper.
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