Judgment expected soon in Gupta plane case
The High Court in Johannesburg heard an urgent court application brought by Canadian bank Export Development Canada on Friday which financed the Guptas private plane.
JOHANNESBURG - Judgment in the Gupta plane saga is expected in the next 10 days.
The High Court in Johannesburg heard an urgent court application brought by Canadian bank Export Development Canada on Friday which financed the Guptas' private plane.
The bank says they want the plane to be grounded because the family has defaulted on the loan, and its concerned the aircraft may be used to evade justice or for other unlawful purposes.
Ajay Gupta has been declared a fugitive and his whereabouts are currently unknown.
Lawyers representing Gupta companies have argued the application to ground the family’s private jet is not urgent.
Advocate Owen Cook says a UK court could take more than a year to decide on a contract termination. Therefore, there’s no urgency with regards to this application.
The legal team representing the Canadian bank says the Guptas have switched off their tracking device and their client has no idea where the plane is or whether it’s being used by the Guptas to flee justice.
However, Cook says the bank entered into the agreement after the controversial Waterkloof landing, implying the bank was well aware of the reputational risk.
Judgment has been reserved.
(Edited by Shimoney Regter)