Saturday, March 3, 2012

Dispute over R11m paid to Fidentia boss's trusts.(News)

BYLINE: FATIMA SCHROEDER

THE Cape High Court had given Fidentia boss J Arthur W Brown breathing space to defend an action by the group's joint curators for R11 million.

The curators, Dines Gihwala and George Papadakis, allege that the money belonged to Fidentia Holdings and that Brown misappropriated the money to acquire two trusts, owning two separate houses in Sunset Beach. Brown and his wife live in one of the houses.

In court papers it emerged that Brown, his wife Susan, his brother Zacharias and his father Stephanus Lategaan were trustees of two family trusts known as the SL Brown Family Trust and the CAM Brown Family Trust.

The …

No comments:

Post a Comment