Zuma fighting VBS liquidators over R7.3 million: Nkandla in balance

Zuma fighting VBS liquidators over R7.3 million: Nkandla in balance

- VBS liquidators, armed with a summons to recover R7.3 million owed to the defunct bank, have been met with resistance from Jacob Zuma

- The ex-president is battling to repay the funds owed for his Nkandla homestead, which is hanging in the balance

- The courts have been asked to grant an order to force the ANC veteran to cough up the funds or lose the property

PAY ATTENTION: Click “See First” under the “Following” tab to see Briefly.co.za News on your News Feed!

Jacob Zuma is facing a legal battle over his Nkandla homestead as VBS liquidators fight to retrieve the R7.3 million owed.

Business Day reports that the former president is determined to fight the summons filed by the bank seeking to push the politician into paying up.

Zuma had taken out the loan to pay the South African Reserve Bank but had fallen behind on his repayments last year.

READ ALSO: Jacob Zuma facing VBS court saga: Infamous Nkandla home on the line

Briefly.co.za reported that Zuma had risked having the property attached and it has now emerged that the ex-president has missed his deadline to plead otherwise.

With his appeal against facing prosecution in his corruption trial and a State Capture Inquiry appearance looming, the ANC veteran is under increasing pressure.

Zuma hopes to avoid facing the music in the Thales arms deal saga despite his legal team's claim he has waited 14 years to have his say.

In response to Zuma's claim that he's too broke to pay mounting legal bills, his clan has said they will help the former leader as best they can.

Enjoyed reading our story? Download BRIEFLY's news app on Google Play now and stay up-to-date with major South African news!

Source: Briefly.co.za

Mailfire view pixel