Security equipment to go under the hammer at Bosasa auction
The family of late CEO Gavin Watson approached the High Court in Johannesburg to stop the auction but was unsuccessful.
JOHANNESBURG - More property was sold on day-two of the auctioning of African Global Operation’s (AGO) assets in Krugersdorp on Wednesday.
The family of late CEO Gavin Watson approached the High Court in Johannesburg to stop the auction but was unsuccessful. The company, previously known as Bosasa, went into liquidation following allegations of major corruption.
Three properties belonging to AGO as well as office furniture were sold on the second day of the auction.
The company’s headquarters in Krugersdorp was also auctioned off for R14 million. Its Rodcor copper smelting plant property near the head office went under the hammer for R11.5 million. While it’s 26.4-hectare estate where the Lindela Repatriation Centre is located sold for R60 million.
Watson’s nephew, Jared, said he still felt the auction was illegal.
“You cannot have a sale of an asset from a party that doesn’t own the asset when it doesn’t have the right to sell the asset. AGO has never given authority to the liquidators to sell the assets,” he said.
Security equipment, cameras, and industrial hardware were set to be auctioned on Friday the final day of the auction.
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