Kenneth Makate told not to accept anything less than R650 million - Report

[Jamie McKane]

Kenneth Makate told not to accept anything less than R650 million - Report

Kenneth Makate has sued his former funders, Raining Men Trade, for fraud and is fighting the company's claim to a share of his settlement with Vodacom, the Sunday Times has reported.

Raining Men Trade was reportedly placed into business rescue this year after not receiving payment from Makate.

 

[Sinbad]

Lol

 

[ToxicBunny]

Bwahahaha.... Idiot

 

[Icemanbrfc]

Oops lol

 

[reactor_sa]

Ah yes, a world full of entitlement

 

[Hamster]

If Vodacom offered me R49 million I'd take the money and disappear.

 

[sand_man]

If Vodacom offered me R49 million I'd take the money and disappear.

What if you had spent R60m on legal bills getting that offer out of Vodacom?

 

[Sinbad]

Then you're a fkn idiot

 

[sand_man]

Then you're a fkn idiot

He gambled and lost. The amount he is claiming is totally ridiculous but the lawyers must have accessed what might have been viable. I wonder what offers have been on the table over the years? Everything about the case seems some what insane!!

 

[InfidelGastro]

This story is getting real old real fast. They're all going to slip up and walk away with zero and their tails between their legs, except Vodacom. In fact their ship has probably sailed already because of the squabbling and sheer greed.

 

[WaxLyrical]

First red flag would've been the name - Raining Men Trade.

I mean really - wtf were they thinking?

 

[EADC]

Everyone chasing billions sucks for you

 

[EADC]

This story is getting real old real fast. They're all going to slip up and walk away with zero and their tails between their legs, except Vodacom. In fact their ship has probably sailed already because of the squabbling and sheer greed.

What now this story is getting fun

 

[Polymathic]

Looks like he got swindled good

 

[marine1]

So VC offered 49 mill? Is this fact or speculation?
Because when asked about 10 mill offer they said significantly more. Have not seen the figure of 49 mill confirmed by VC

 

[epah]

This guy will still be in debt even after the 49mil settlement. That’s if it even happens.

 

[wcm]

How does one get to R60mil worth of lawyers fee in 5 years? That's R12 mil a year

 

[Hamster]

What if you had spent R60m on legal bills getting that offer out of Vodacom?

Well I wouldn't be that stupid so cannot relate. For some reason I thought it was R49 mil "with cost"

 

[R13...]

Lesufi and his merry band will likely turn on these raining men at some point to make sure Makate ends up with some change

 

[Gordon_R]

How does one get to R60mil worth of lawyers fee in 5 years? That's R12 mil a year

Part of the problem is that several teams of lawyers have contractual claims (of varying plausibility) totaling close to 100% of the payout. Its more like an equity share, than actual costs for court appearances.