The high court has sealed the National Prosecuting Authority’s R500m settlement with former Gupta business associate’s Templar Capital, but not without a last-minute attempt from the Gupta family to stop the deal.
It requires Templar to settle an approved list of Optimum creditors for just over R460-million, make payment towards curator fees and pay the NPA’s legal costs of roughly R20-million.In Thursday’s ruling, the court said it was satisfied that the draft orders put forward following the agreement between the NPA and Templar are appropriate as contemplated in terms of the Prevention of Organised Crime Act .
One of the applications sought to attach the Gupta family’s shares in Tegeta as the owner of Optimum Coal Mine and Optimum Coal Terminal, and a second involved the preservation of Templar’s creditor claim. The settlement only covers a portion of the overall R2-billion Optimum purchase price and the forfeiture amount is considered proportionate.
These payments relate specifically to Regiments Capital, its offshoot, Trillian Capital Partners and Albatime, a company owned by Kuben Moodley, regarded as a Gupta fixer at the time.The order follows what appears to have been an unsuccessful last-ditch bid by the Guptas to try to intervene in the matter on Monday, January 29 2023.
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