Regiments Fund Managers (PTY) Ltd and Others v The National Director of Public Prosecutions and Another (40451/2019) [2022] ZAGPJHC 659 (1 September 2022)

Regiments Fund Managers (PTY) Ltd and Others v The National Director of Public Prosecutions and Another (40451/2019) [2022] ZAGPJHC 659 (1 September 2022)

The court found that the application was urgent due to the ongoing Supreme Court of Appeal proceedings and the inability of the applicants to obtain substantial redress if the matter were heard in the ordinary course. The applicants had made full disclosure of their assets to the curator bonis, who confirmed compliance with disclosure obligations. The refusal to release funds for legal expenses was not justified, especially as the applicants could not meet these expenses from unrestrained property. The requirements of section 26(6) of POCA were satisfied, and the legal expenses were market-related. The court ordered the curator bonis to release the necessary funds and directed the NDPP to...

Citation
[2022] ZAGPJHC 659
Parties
Applicant: Regiments Fund Managers (PTY) Ltd; Applicant: Regiments Securities Ltd; Applicant: Ash Brook Investments 15 (PTY) Ltd; Applicant: Coral Lagoon 194 (PTY) Ltd; Applicant: Kgoro Consortium (PTY) Ltd; Respondent: The National Director of Public Prosecutions; Respondent: Eugene Nel N.O.
Court
South Gauteng High Court, Johannesburg
Jurisdiction
South Africa
Judgment Date
1 September 2022
Case Number
40451/2019
Procedural Posture
Urgent Application / Application for Urgent Relief to Release Restrained Assets for Legal Expenses Pending SCA Appeal
Outcome
Application granted. The curator bonis is directed to release funds for legal expenses and the NDPP is ordered to pay costs.
Judges
ML Senyatsi
Legal Topics
Urgent Application, Restraint Order, Legal Expenses, Prevention of Organised Crime Act, Full Disclosure, Curator Bonis
Civil Procedure Criminal Law Urgent Application Restraint Order Legal Expenses Prevention of Organised Crime Act Full Disclosure Curator Bonis

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Parties

Regiments Fund Managers (PTY) Ltd

Applicant

Regiments Securities Ltd

Applicant

Ash Brook Investments 15 (PTY) Ltd

Applicant

Coral Lagoon 194 (PTY) Ltd

Applicant

Kgoro Consortium (PTY) Ltd

Applicant

The National Director of Public Prosecutions

Respondent

Eugene Nel N.O.

Respondent

Procedural Posture

Urgent Application / Application for Urgent Relief to Release Restrained Assets for Legal Expenses Pending SCA Appeal

Legal Issues

  1. 1 Whether the application was urgent and should be heard as such.
  2. 2 Whether the requirements of section 26(6) of POCA for release of restrained assets for legal expenses were met.

Ratio Decidendi

The court found that the application was urgent due to the ongoing Supreme Court of Appeal proceedings and the inability of the applicants to obtain substantial redress if the matter were heard in the ordinary course. The applicants had made full disclosure of their assets to the curator bonis, who confirmed compliance with disclosure obligations. The refusal to release funds for legal expenses was not justified, especially as the applicants could not meet these expenses from unrestrained property. The requirements of section 26(6) of POCA were satisfied, and the legal expenses were market-related. The court ordered the curator bonis to release the necessary funds and directed the NDPP to...

Court Disposition

Application granted. The curator bonis is directed to release funds for legal expenses and the NDPP is ordered to pay costs.

Orders

  • The forms and service for the Uniform Rule of Court are dispensed with and the matter is enrolled and heard as an urgent application in terms of Rule 6(12).
  • The second respondent is directed to release such realizable property within his control to meet the reasonable legal expenses of the applicants in connection with the proceedings and any related criminal proceedings.