KZN Goverment in court over wine estate
The defunct Stables Wine Estate, which is facing a R3.4-million lawsuit brought by the Economic Development Department, has been provisionally wound up.
On Monday, Durban High Court Judge Graham Lopes granted an order provisionally winding up the estate after an application was brought by FirstRand Bank. The matter was adjourned to April 2.
FirstRand’s commercial recoveries manager, Shashika Ramtahal, said the estate, located on a property in Nottingham Road in the Midlands, owed the bank about R1.3m plus interest in respect of loans.
She said that immovable property owned by Harbour Rocks Properties had been pledged as security for repayment of the debt.
read full article on iol.co.za
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