Africa Cash and Carry to challenge court order
Africa Cash and Carry is ready to fight back after Sars froze its assets.
JOHANNESBURG - Africa Cash and Carry says it plans to challenge the provisional preservation of its assets by the South African Revenue Service (Sars) in the high court.
It says it believes the court order is factually flawed.
Sars was granted the order on Thursday.
On Friday it provisionally froze the assets of company and 18 other respondents due to its R1.2 billion tax debt.
Africa Cash and Carry recently came under the spotlight after being implicated in the alleged bribing of the Financial Services Board CEO Dawood Seedat.
Africa Cash and Carry's lawyer Saleem Ebrahim says the court order provisionally freezing the company's assets is factually incorrect.
"We believe that it's factually flawed in many respects. We also believe that there are various untruths on the paper as they stand which will be brought to the attention of the judge in the appropriate form."
The company has until 28 August to motivate why the order should be reversed and Ebrahim says they will in court next week.
"We have no intention of hearing this matter on 28 August. We are most likely to be hearing this matter by next week."
The court appointed curator is still busy assessing the total value of the company's assets and while the litigation continues, it will be open for business.