ANCYL provisionally liquidated
The ANC Youth League says it is studying the ruling by the South Gauteng High Court.
JOHANNESBURG - The South Gauteng High Court has provisionally liquidated the ANC Youth League (ANCYL) as a result of it being in the red to the tune of R15 million.
The debt was accumulated under the leadership of expelled former president Julius Malema as a result of unsettled payments for a conference held in 2008 where he was elected.
The league's national task team coordinator Magasela Mzobe says the league is "shocked" by the ruling and will meet with lawyers next week to decide whether it will appeal.
"If not contested it could led to the liquidation of the African National Congress. We are therefore studying the verdict in order to determine our next step."
The affairs of the ANCYL will from now on be put in the hands of the Master of the High Court and that the interim leadership of the league is no longer in a position to take any decisions until the final order on 27 January.