| | Moneyweb: South Africa's leading source for independent investment information (Site not responding. Last check: 2007-09-29) |
 | | On May 3, 2004, the Mmabatho High Court set aside the appointment of Enver Motala, a prominent liquidator, to Garveni. |
 | | In the written reasons for the finding this week, Judge Leeuw states that the directors of Garveni had not come forward to explain why the company’s registered office address was moved, twice, after the winding up process was commenced. |
 | | The judge examined the facts behind the accounts of Modibela and Motala, and stated that the only “reasonable inference to be drawn from the conduct of both Motala and [Modibela] is that there was a desperate attempt to regularise the position and cover the irresponsible conduct of [Modibela] in the execution of his duties.” |
| www.moneyweb.co.za /specials/corp_gov/382482.htm (528 words) |