The High Court in Pietermaritzburg this week gave the green light for the VBS Bank curator to seize Zuma's moveable assets to pay back a loan.
The former president borrowed some R6 million from the now defunct mutual bank to pay for upgrades to his Nkandla residence.The foundation's spokesperson, Mzwanele Manyi says they will respond to the court ruling in due course. "We will consult legal counsel before anything else happens. If, after that interaction, it is deemed necessary to issue a statement, that will happen.
"I just want to make it clear that between now and then, there will be no response from the foundation or from president Zuma."
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Law Law Latest News, Law Law Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Jacob Zuma Foundation to study ruling on R6.5m VBS Mutual Bank loanThe Jacob Zuma Foundation said that it would study a judgment by the High Court in Pietermaritzburg, which has ruled that VBS Mutual Bank can seize his moveable assets to repay a R6.5 million loan. to study JGZ_Foundation Nothing to study. It orders Zuma to paybackthemoney Can somebody tell me who the JGZ_Foundation is
Source: ewnupdates - 🏆 30. / 53 Read more »
BREAKING: It’s #paybackthemoney Nkandla time: Court rules VBS can seize Jacob Zuma’s assetsVBS Mutual Bank can now seize former president Jacob Zuma’s cattle, furniture and other realisable assets to repay his R6.5-million loan for his homestead at Nkandla in KwaZulu-Natal. This on the back of an order in VBS’ favour by the High Court in Pietermaritzburg, delivered on Tuesday. PaulivW Good PaulivW isn't it time for thr prosecution of the VBS masterminds? This will be settled without any asset being seized.. Or simply won't be acted on.. Or will be referred to the con court under some cooked up legal pretext..
Source: dailymaverick - 🏆 3. / 84 Read more »
BREAKING: It’s #paybackthemoney time: Court rules VBS can seize Jacob Zuma’s assetsVBS Mutual Bank can now seize former president Jacob Zuma’s cattle, furniture and other realisable assets to repay his R6.5-million loan for his homestead at Nkandla in KwaZulu-Natal. This on the back of an order in VBS’ favour by the High Court in Pietermaritzburg, delivered on Tuesday. PaulivW Tell us about Phala Phala please, we still waiting for Ranko to be arrested 🤞🏽🤞🏽🤔🤔 PaulivW He will do everything possible to review or appeal the ruling. ermbates PaulivW Cannot wait to see that!
Source: dailymaverick - 🏆 3. / 84 Read more »