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Watson family welcomes ruling on 'unlawful' Bosasa auction

The court found that the liquidators appointed to run the embattled company acted unlawfully last year when they auctioned off its assets.

FILE: Clive Lazarus, an appraiser to the master of the High Court, during the first of three days of auctions of Bosasa’s assets at the company’s headquarters in Krugersdorp on 4 December 2019. Picture: Sethembiso Zulu/EWN.

JOHANNESBURG - The Watson family has welcomed a decision by the Johannesburg High Court that the auction at African Global Holdings, formerly known as Bosasa, was unlawful.

The court found that the liquidators appointed to run the embattled company acted unlawfully last year when they auctioned off its assets.

Bosasa allegedly spent years bribing politicians and ministers in exchange for lucrative tenders.

Acting judge DP De Villiers said the sale of the assets was not legal because the board of directors of the company didn’t authorise it. The company applied last year in December to halt the sale because it was going into business rescue.

But an auction house continued with the sale despite the company’s court challenge.

The court was clear that the business rescue application nullified the plans to auction off the company’s assets.

Former CEO Gavin Watson’s brother Jarrod Watson said: “The liquidators acted unlawfully, deliberately and in defiance of court orders.”

African Global Operations is currently under scrutiny for paying millions in bribes to politicians.

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