Dave King's R200m plane deal stopped by court
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Dave King's R200m plane deal stopped by court
The SA Revenue Service (Sars) has been granted an order preventing a company controlled by Dave King, the businessman locked in a multibillion rand tax wrangle with Sars, from applying to register in another country a Falcon aircraft it owned and from deregistering the aircraft in South Africa.
Judge Willie Hartzenberg granted the interim order against Metlika Trading in the Pretoria high court yesterday and postponed the case indefinitely.
The aircraft, worth about R200 million, was currently parked at Le Bourget airport in France, according to court documents.
The application by Sars is related to its attempt to get King to pay taxes allegedly owned to it and to prevent the dissipation of assets controlled by King.
It follows the constitutional court's refusal with costs earlier this month of an application by two of King's businesses for leave to appeal a supreme court ruling involving the same aircraft.
The supreme court ruled that Hawker Aviation, one of King's companies, must recover the aircraft he allegedly sold and return it to South Africa.
Yesterday's high court application was the latest in a series of court battles between Sars and King.
They follow Sars's tax assessment levied against King for R912.8 million about five years ago and a R1.46 billion outstanding tax claim for Ben Nevis Limited, a company King represented in South Africa.
Judge Willie Hartzenberg granted the interim order against Metlika Trading in the Pretoria high court yesterday and postponed the case indefinitely.
The aircraft, worth about R200 million, was currently parked at Le Bourget airport in France, according to court documents.
The application by Sars is related to its attempt to get King to pay taxes allegedly owned to it and to prevent the dissipation of assets controlled by King.
It follows the constitutional court's refusal with costs earlier this month of an application by two of King's businesses for leave to appeal a supreme court ruling involving the same aircraft.
The supreme court ruled that Hawker Aviation, one of King's companies, must recover the aircraft he allegedly sold and return it to South Africa.
Yesterday's high court application was the latest in a series of court battles between Sars and King.
They follow Sars's tax assessment levied against King for R912.8 million about five years ago and a R1.46 billion outstanding tax claim for Ben Nevis Limited, a company King represented in South Africa.
http://www.busrep.co.za/index.php?fA...-11&f=d&t=html
