Rugby

Lions deny liquidation rumours

2012-01-17 18:14
Kevin de Klerk (File)
Johannesburg - The Golden Lions Rugby Union (GLRU) has denied media reports that the union is facing liquidation.

The union is upset after several recent articles referred to the Lions as "cash-strapped".

Rumours on various social media platforms have also implied that the GLRU's former equity partners, the Guma TAC Group, might initiate steps to have the Currie Cup champions liquidated.

“We have a new equity partner in Altmann Allers and I can state categorically there won't be any liquidation,” GLRU president Kevin de Klerk told the Lions' website on Tuesday from Rustenburg, where he was at the Lions' three-day training camp. Allers is owner of Glasfit and also the GLRU deputy president.

De Klerk added that the Guma Group did advance money to the GLRU during their equity relationship with the Lions, and that the GLRU lawyers and those of Gumede are currently in the process to determine what the Gumede claim entails.

Any consideration by the Guma Group to apply for liquidation will have to be tested against the GLRU’s debts exceeding their assets. “I can categorically say that this is not the case. The GLRU is definitely not bankrupt and there is no prospect of liquidation," said De Klerk said.

 

Read more on:    super 15  |  kevin de klerk  |  johannesburg
NEXT ON SPORT24X

Hartley sees red for elbow

2014-12-20 19:51

 

Read News24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
22 comments
Add your comment
Comment 0 characters remaining
Live Video Streaming
  • Blitz
    Mon, 24 Nov 2014 @00:00
  • SS1
    Mon, 24 Nov 2014 @01:00
  • SS2
    Mon, 24 Nov 2014 @02:00
  • SS3
    Mon, 24 Nov 2014 @03:00
Video Highlights
Sport Talk

 

Joburg hot spots for cocktails, craft beer, tapas and wine!

It’s the season to be jolly – so we’ve rounded up some new Joburg hot spots!

 
 

I love summer.24

Christmas lingerie to make this festive season the best one ever!
13 things you might not know about Disneyland
The craziest deaths of 2014
How to make this a sensual, sexy summer!
 
 
/Sport
Men
Women
Love 2 Meet
English Premiership flutter

Take Sport24's "expert" tips at your peril...

Featured

Got something you'd like to get off your chest? Got a burning desire to air an opinion? If so, be sure to sign-up on Sport24's FORUM!

Latest blogs
Vote

The five candidates for SA Player of the Year have been revealed. Who gets your vote?

Twitter Follow Sport24 on Twitter

Facebook "Like" Sport24's Facebook page

Newsletters Sign up for the Morning Glory, Super 15 and Soccer newsletters

WIN Enter and win with Sport24!

Mobile Sport24 on your mobile phone - WAP, alerts, downloads, services

Forum Have your Say on Sport24's brand new Forum!

BlackBerry Stay in the loop on your BlackBerry

iPhone Latest Sport24 news on your iPhone

RSS Feeds Sport news delivered really simply.

Blogs Yes your opinion counts. Get it out there

 
There are new stories on the homepage. Click here to see them.