Overview
- The Special Tribunal authorised SIU-appointed curator Jacobus G. L. Van Wyk to sell a Ferrari SF90 Stradale for not less than R9.5 million.
- Judge Bernard Ngoepe required the sale proceeds to be placed in an interest-bearing trust account and used only to maintain assets under curatorship with SIU approval.
- The Maumela Syndicate’s challenge to remove the curator was dismissed and the syndicate was ordered to pay the curator’s legal costs on an attorney-and-own-client scale.
- The curator argued that ongoing storage, insurance and maintenance costs threatened the car’s value and that converting it to liquid funds would better preserve or enhance that value.
- The Ferrari is one of several vehicles preserved as part of the SIU’s probe into alleged corruption at Tembisa Hospital, where about R2 billion is alleged to have been looted, and related evidence has been referred to the NPA for possible criminal action.