News24

Lions and Guma Tac settle

2012-05-03 11:42

Johannesburg - A former potential equity partner of the Golden Lions Rugby Union (GLRU) has reportedly reached an out-of-court settlement with the provincial rugby body.

Acting GLRU CEO Ruben Moggee told The Times on Thursday that the Guma Tac Group had withdrawn an application to liquidate the union.

Moggee told the newspaper he could not comment on the settlement amount.

"Unfortunately, because it was an out-of-court settlement, I cannot divulge what that figure was. Both parties have to agree before that kind of information is made public."

Guma Tac filed papers in the High Court in Johannesburg in January to the effect that the GLRU was "hopelessly insolvent, both factually and commercially".

Jointly-owned by Robert Gumede and Ivor Ichikowitz, Guma Tac cut ties with the GLRU in June 2011, shortly before it was to have purchased a 49.9 percent stake in the union.

The former potential equity partners claimed in the court papers that the GLRU owed Guma Tac in excess of R8 million and Ichikowitz more than R2m.

GLRU president Kevin de Klerk said in January the court papers were "filled with many half truths" and said the union had not been unwilling to pay back any money.

He also denied claims of bankruptcy, after the union allegedly struggled to pay players' salaries.

SAPA

Comments
  • Nico - 2012-05-03 11:49

    Well, that is one issue out of the way, just a million or so to go then everything will be hunky dory again :)

  • John - 2012-05-03 11:51

    The lions are a rugby icon of this country with so much history they deserve to be saved.......any takers.....?

      sandile.vanheerden - 2012-05-03 11:57

      I say let all Lions fans donate R10 to the union.

      Marcel - 2012-05-03 12:09

      @ sandile: what is the GLRU going to do with a 1000 bucks

      heinrich.beukes1 - 2012-05-03 12:22

      @Marcel their facebook page has 10 000+ supporters, 100 000 is not alot but it is a start!

      sandile.vanheerden - 2012-05-03 13:26

      Us Lions fans have learned to laugh at ourselves, so for that I will say, Nice one Marcel! That was pretty funny.

      lucas.coetzer - 2012-05-03 14:33

      I am a proud Lions Supporter, but i have to say to Marcel, that was really funny

      Robi - 2012-05-03 14:40

      sms "save" to 32211, R9.99 will be donated to GLRU...hahaha...

  • MiloT77 - 2012-05-03 12:13

    I'll be Lions supporter to the death but I'd only donate to the franchise if it mant they were in danger of closing down entirely. The union needs to perform on field and bring back the crowds so it can stand on its feet financially (if indeed there is some truth to the filed arguments)

  • Johan - 2012-05-03 12:14

    Keep the soccer people out ogf rugby. They can't see anything through,a lot of noise but running when things don't go their way

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