This is contained in a high court application by Border (Pty) Ltd, which paints a bleak picture of the company’s finances.
In the founding affidavit signed by BRU president Pumlani Mkolo, who is also director of the beleaguered business arm of the union, the applicant’s liabilities are said to exceed its assets by over R11-million.
This is confirmed by an independent auditor’s report, which further red-flagged Border for “certain unlawful acts or omissions committed by persons responsible for the management of Border Rugby (Pty) Ltd, which constitute reportable irregularities in terms of the Auditing Profession Act”.
In the same court papers, it emerges that in July this year, Red Alert won a court order for Border to pay a debt of more than R110000 owed to the security company, with interest at a rate of 15.5% dating back to March 2013.
