Browns lawyers to work with curators
Lawyers acting for Fidentia boss J Arthur Brown say they are going to keep a close eye on curators as they unravel the affairs of the firm.
According to a report on the Mail & Guardian Online site, Brown\'s attorney, John Hunter, said in a statement Brown had not opposed Tuesday\'s final curatorship order in the Cape High Court because they had negotiated and reached an undertaking to work with the curators. Mr Brown had a very good chance of successfully defending the granting of the final order, but it was decided not to proceed at this stage for specific strategic reasons, Hunter said. He quoted a letter from joint curator Dines Gihwala in which Gihwala said the curators would keep Brown fully apprised of our progress regarding the curatorship process.
Full report on Mail & Guardian Online site
The curators have meanwhile warned Danisa Baloyi, the SA businesswoman currently embroiled in the Fidentia scandal, to repay the R8m loan she took from Fidentia or face a lawsuit. Baloyi was given an R8m loan, interest free, says SABC News. Baloyi\'s lawyers have responded by that saying she may be willing to make a settlement agreement.
Full SABC News report