Business Magnate Loses Private Jet
Business Mogul John Arnold Bredenkamp’s private jet is set to be auctioned after he failed to settle a US$205 000 debt.
Brednenkamp borrowed US$3,8 million from his business friend, Yaqub Mahomed, for the purposes of recapitalising his mining business in the Democratic Republic of Congo (DRC).
He, however, failed to settle the debt in full resulting in a protracted legal battle with Mohamed.
The High Court ruled in favour of Mohamed for US$3,8 million plus interest, but the debt was then reduced to US$205 602 after taxation.
Bredenkamp, through a company called Longhorn Limited, attempted unsuccessfully to stop the auctioning of the plane.
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High Court judge Justice Happias Zhou dismissed the application by the accused to stop the attachment and removal of the private jet set for June 5, 2018.
The matter was again brought before High Cort Judge Justice George Chiweshe where Longhorn Limited claimed that the jet did not belong to Bredenkamp but was leased by an American company.
In his ruling Justice Chiweshe said:
On a balance of probabilities, all indications points in one direction, that the judgment debtor (Bredenkamp) is the owner of the aircraft.
In his attempt to evade execution in satisfaction of a judgment of this court, the judgment debtor has colluded with the claimant (Longhorn Limited) to file a non-existent claim.
In fact, as the claimant is not the owner there is no valid claim before this court.
I agree with the judgment creditor (Mahomed) that an order for cost on the higher scale is justified in this case.
