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Canadian bank’s application to ground Gupta jet expected to be heard on Tuesday – rep

qscwbt

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Feb 24, 2014
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#43
Could the Guptas be the biggest con artists yet to roam the earth? I am just surprised how far the rot reached over the world.
 

Gordon_R

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#44
These guys are still fighting, weirdly slippery legal arguments: https://www.news24.com/SouthAfrica/News/court-was-wrong-to-ground-our-plane-guptas-20180413

Further, the Guptas state that the court was misdirected in finding that a failure to provide audited financial statements from the Guptas constituted an event of default.

They also contend that: "The court erred in holding the delisting of Oakbay Resources was material. The court ignored the fact that it voluntarily delisted itself from the Johannesburg Stock Exchange."
 

Gordon_R

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#46
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surface

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#47
I believe ZS-OAK landed at Lanseria just after 22:00 last night.
Brilliant - and it is not going anywhere anytime soon.

https://www.timeslive.co.za/news/so...anseria-airport-grounded-in-corruption-probe/

A private jet used by a business family at the heart of corruption allegations against ex-president Jacob Zuma has been flown back to South Africa where it was grounded by a court order, an official said Saturday.

The High Court in Johannesburg on March 19 had given the Guptas 15 days to hand over the luxury aircraft to the airport.

"It's grounded," said Christoph.

"As an airport we have to comply with court orders and we cannot provide it with any services, we will not fuel it, we will not do anything with the aircraft."
 

marine1

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#48
The Guptas are fighting so hard for this because they need this aircraft that cant be tracked to commit more crimes.
 

Gordon_R

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#49
https://www.timeslive.co.za/news/so...anseria-airport-grounded-in-corruption-probe/

A private jet used by a business family at the heart of corruption allegations against ex-president Jacob Zuma has been flown back to South Africa where it was grounded by a court order, an official said Saturday.
The big question is why did they bring it back? Definitely not out of the kindness of their hearts...

Was it getting harder to service and refuel at other airports? Do they think they can win a temporary appeal by showing 'good-faith' to the courts?

Coincidentally both happened on Fri 13th?

Previously posted yesterday: https://www.news24.com/SouthAfrica/News/court-was-wrong-to-ground-our-plane-guptas-20180413

The Gupta family have argued, in their application to appeal a high court ruling to ground their plane, that the court made a number of errors, including believing that the Canadian export bank which facilitated the lease deal would suffer reputational harm.

The papers also state that the South Gauteng High Court in Johannesburg erred on a number of issues during the judgment, in which the Guptas were ordered to return the plane to Lanseria Airport pending a court case in the UK.
 
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ForceFate

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9,910
#50
The big question is why did they bring it back? Definitely not out of the kindness of their hearts...

Was it getting harder to service and refuel at other airports? Do they think they can win a temporary appeal by showing 'good-faith' to the courts?

Coincidentally both happened on Fri 13th?

Previously posted yesterday: https://www.news24.com/SouthAfrica/News/court-was-wrong-to-ground-our-plane-guptas-20180413
Probably harder to use outside the UAE. That, parking fees and associated expenses?
 

Gordon_R

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#51
Not clear if ZS-OAK is included in the assets siezed by the Hawks today: https://www.news24.com/SouthAfrica/...assets-related-vrede-dairy-farm-case-20180416

"The order makes provision for the restraint of several assets to the value of R250 202 652.00, pending the finalisation of the criminal trial and upon conviction, the AFU will apply for a confiscation order for the recovery of the said amount and or any related amounts.

"Amongst the assets forming part of the restraint order, include the following; immovable property (residential and business premises and farms), two aircrafts, a helicopter, vehicles and bank accounts belonging to certain entities, namely, Oakbay Investments, (Pty) Ltd Islandsite Investments 180, Confidents Concept (Pty) Ltd, Sahara Computer (Pty) Ltd and Westdawn Investments and Aerohaven Trading."
 

schumi

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Mar 26, 2010
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#52
Court dismisses Guptas' bid to hold onto jet

The South Gauteng High Court in Johannesburg on Thursday dismissed an application by the Gupta family for leave to appeal an order that their aeroplane be grounded.

On March 19, the same court ordered the Gupta family to deliver a Bombadier Global 6000 aircraft to Lanseria International Airport within 15 calendar days. The plane was spotted at the airport earlier in April.

The ruling came after Export Development Canada (EDC) and Stoneriver approached the court with an urgent application earlier in March to ask it to ground the aircraft.

The family had a lease agreement with EDC and Stoneriver for the aeroplane.

They approached the court for leave to appeal the judgment, arguing that a different court would reach a different decision.
More at: https://www.news24.com/SouthAfrica/News/court-dismisses-guptas-bid-to-hold-onto-jet-20180503
 

ForceFate

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#54
Not clear if ZS-OAK is included in the assets siezed by the Hawks today: https://www.news24.com/SouthAfrica/...assets-related-vrede-dairy-farm-case-20180416
https://www.businesslive.co.za/bd/n...feiture-unit-raids-guptas-saxonwold-compound/

The Asset Forfeiture Unit (AFU) has moved to seize cars, aircraft and properties worth at least R250m belonging to the Guptas and their associates, allegedly bought with looted state funds.

Assets include the Guptas’ elusive Bombardier jet, which landed at Lanseria airport on Friday after Export Development Canada (EDC), the Canadian bank that financed it, went to court to have it grounded.
 

Gordon_R

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#56
Surely EDC has more claim to the plane than the AFU?
In this case it is more a question of 'freezing' the asset, the courts still have to decide on the merits of the case.

Off topic, but asset forfeiture laws can lead to some bizarre outcomes...
 

ForceFate

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9,910
#58
In this case it is more a question of 'freezing' the asset, the courts still have to decide on the merits of the case.

Off topic, but asset forfeiture laws can lead to some bizarre outcomes...
It will probably be forfeited to state. EDC may then approach the courts to prove ownership of aircraft (I may be wrong)
 

schumi

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#60
Guptas have 5 days to return plane to Lanseria airport

The South Gauteng High Court in Johannesburg found some of the Gupta family to be in breach of a court order, after the same court ordered the family return the now infamous Bombadier Global 6000 to a Canadian bank.

High Court Judge Fayeeza Kathree-Setiloane said on Friday that Atul Gupta and his wife, Chetali, as well as Westdawn and Oakbay Investments, were in breach of the same court's order earlier this year that ordered the family to return the aeroplane to Lanseria airport.

Kathree-Setiloane in her judgment said the Guptas had five calendar days to return the aircraft to Export Development Canada (EDC). She added that if they were unable to do so, they had to file an affidavit to explain why.
More at : https://www.news24.com/SouthAfrica/...-to-return-plane-to-lanseria-airport-20180601
 
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