interim interdict to attach the Gary Player Stud Farm

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interim interdict to attach the Gary Player Stud Farm

11 years 11 months ago
#364836
Controversial tax rebel Dave King wants golf icon Gary Player to pay him about R33m, DispatchOnline reported on Tuesday.

The Glasgow-born King claims it relates to a loan of R6.1m he had made to Player in July 1999. King now wants the money back, with interest. Player denies owing anything.

King became entangled in a battle with the South African Revenue Service (Sars) in 2001. By August 2006 the South African prosecuting authorities claimed King was one of the richest people in South Africa and Britain and had already spent R65m on legal costs by that time.

King faced 322 charges, ranging from tax dodging, violation of exchange control measures, extortion to money laundering. He and his associated companies reportedly owed Sars some R2.75bn.

In March this year, King struck a confidential deal with Sars that resulted in many of his South African assets being sold to offset his tax debt.

King now claims he had not called in the loan to Player during the past 13 years, because he knew Sars would immediately have seized it to offset his disputed tax debt.

According to King he and Player had agreed to extend the repayment term until he had settled the dispute with Sars.

Pending the outcome of his claim against Player, the Grahamstown High Court has granted King an interim interdict to attach shares held by Player in the Gary Player Stud Farm near Colesberg.

Player apparently intends to contest the claim as well as the attempt to attach his shares in the stud farm. He admits he received the money, but denies that there was a loan agreement.

A letter submitted on behalf of Player states that King gave the money to Player to pay off a R6m debt Player owed to IMG Sports Management.

In return, King could then travel with Player to major international sports events, which he did

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