R40bn in damages claims following Kebble fraud

This is probably the biggest raft of damages claims in SA history. The claims, mostly brought in the last few weeks, allege that complicity by co-directors and professional lapses by other corporate entities allowed Kebble to get away with stealing billions worth of shares from the companies he controlled. The legal action follows the collapse of merger talks between two companies once controlled by Kebble - his main corporate vehicle, JCI, and Randgold & Exploration (R&E). A Mail & Guardian report says R&E was the victim of a process whereby Kebble and his associates secretly disposed of the company's shares and used the proceeds to prop up his other companies. The money was also used to benefit the alleged conspirators personally, and enabled them to try to buy their way out of trouble using political connections. Plans to merge JCI and R&E collapsed because the Johannesburg Stock Exchange refused to relax its requirement that shareholders be provided with a full set of audited accounts before being required to vote on a merger. Full Mail & Guardian report

Roger Kebble was still to decide whether to pursue civil action against drug kingpin Glenn Agliotti for the upkeep of his four grandchildren, following an out-of-court settlement with co-accused John Stratton, Kebble's lawyer said. Business Day notes that an R8.6m claim against Agliotti and Stratton for the maintenance of Brett Kebble's children was due to begin in the Cape Town High Court but was halted after a deal was made with Stratton after lengthy negotiations. Kebble and Stratton's lawyer, Rael Gootkin, were tightlipped about the details of the settlement. Stratton is alleged to be the mastermind behind Kebble's 2005 murder, an allegation that Stratton has denied. Kebble attorney Kim Warren would not rule out the possibility of legal action against Agliotti, saying Kebble would still have to decide if he wished to take action. Agliotti's lawyer, Lawrence Hodes, said papers were never officially served on his client, although Agliotti is cited in the court papers. Full Business Day report