National Director of Public Prosecutions v Templar Capital Ltd (62601/2021) [2024] ZAGPPHC 244 (2 February 2024)

National Director of Public Prosecutions v Templar Capital Ltd (62601/2021) [2024] ZAGPPHC 244 (2 February 2024)

The court found that Griffin Line's application for postponement was unsupported by a full and satisfactory explanation and that the Bermuda injunction order was not enforceable in South Africa, thus Griffin Line lacked locus standi to intervene. The NDPP established, on a balance of probabilities, that R255,333,820.89 of the claims held by Templar Capital Ltd against Optimum Coal Mine were proceeds of unlawful activities, specifically funds laundered from unlawful Eskom payments and stolen pension assets. The actual value recoverable under the business rescue plan and prior forfeiture orders reduced the quantum to be forfeited to R19,031,376.03. The court granted a proportional...

Citation
[2024] ZAGPPHC 244
Parties
Applicant: National Director of Public Prosecutions; Respondent: Templar Capital Ltd; Respondent: Griffin Line General Trading LLC
Court
North Gauteng High Court, Pretoria
Jurisdiction
South Africa
Judgment Date
2 February 2024
Case Number
62601/2021
Procedural Posture
Forfeiture Application / Final Judgment
Outcome
Postponement application dismissed; forfeiture order granted for R19,031,376.03; costs awarded to the applicant.
Judges
N Janse van Nieuwenhuizen
Legal Topics
Prevention of Organised Crime Act, Forfeiture of Proceeds, Business Rescue, Foreign Judgment Enforcement, Postponement, Costs Award
Criminal Law Civil Procedure Prevention of Organised Crime Act Forfeiture of Proceeds Business Rescue Foreign Judgment Enforcement Postponement Costs Award

Case Brief

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Parties

National Director of Public Prosecutions

Applicant

Templar Capital Ltd

Respondent

Griffin Line General Trading LLC

Respondent

Procedural Posture

Forfeiture Application / Final Judgment

Legal Issues

  1. 1 Whether Griffin Line General Trading LLC is entitled to a postponement to intervene based on a foreign injunction order.
  2. 2 Whether the property identified in the preservation order constitutes proceeds of unlawful activities under POCA.
  3. 3 What is the correct quantum of the forfeiture order to be granted.

Ratio Decidendi

The court found that Griffin Line's application for postponement was unsupported by a full and satisfactory explanation and that the Bermuda injunction order was not enforceable in South Africa, thus Griffin Line lacked locus standi to intervene. The NDPP established, on a balance of probabilities, that R255,333,820.89 of the claims held by Templar Capital Ltd against Optimum Coal Mine were proceeds of unlawful activities, specifically funds laundered from unlawful Eskom payments and stolen pension assets. The actual value recoverable under the business rescue plan and prior forfeiture orders reduced the quantum to be forfeited to R19,031,376.03. The court granted a proportional...

Court Disposition

Postponement application dismissed; forfeiture order granted for R19,031,376.03; costs awarded to the applicant.

Orders

  • The amount of R19,031,376.03 is declared forfeited under section 50(1)(b) of POCA.
  • Liberty Coal (Pty) Ltd is ordered to pay R19,031,376.03 into the Criminal Assets Recovery Account at the South African Reserve Bank within 10 days.