KZN wine estate liquidated

The defunct Stables Wine Estate in the Midlands owned by Ralph, and Judy van Niekerk, was wound up in the Durban High Court yesterday.

Durban High Court Judge Dhaya Pillay granted an order to finally wind up the company after an application was brought by FirstRand Bank Limited.

The couple were not represented in court yesterday and did not oppose the application.

The wine estate closed last year and the couple have since moved to Cape Town.

In its court papers, FirstRand’s commercial recoveries manager, Shashika Ramtahal, said the estate, located on a property in Nottingham Road, owed the bank about R1.3 million plus interest for loans.

She said FirstRand did not know of the Van Niekerks’ whereabouts and it was believed that the estate also owed money to other creditors.

“I assume that such creditors will no doubt seek to take legal action against the respondent.

“It would be to the benefit of the general body of creditors if the respondent is wound up in order to ensure an equitable distribution of its assets.”

The couple are also embroiled in another legal battle with the provincial Economic Development Department, which is suing them for R3.4m in the Pietermaritzburg High Court.