A PROVISIONAL preservation order granted to the South African Revenue Service (SARS) in November over the affairs of Dave King is due to be executed on Monday after the North Gauteng High Court on Friday found the businessman to be in contempt of the order.
Mr King was ordered to abide by the order or face jail. The businessman is well known for his long-running legal battles with SARS.
In her ruling, Judge Cynthia Pretorius said Mr King had been “obstructive in every respect”. He had “steadfastly” refused to co-operate with the curator, Cloete Murray — a director of Sechaba Trust — appointed by the court to execute the preservation order.
Mr Murray brought the contempt of court urgent application after Mr King ignored the preservation order. This was granted against some South African assets belonging to Mr King and companies associated with him, and also included his Sandhurst family home and several vehicles. In terms of the November order, the assets would vest with the curator.
The North Gauteng High Court ordered that all books and records in possession or under Mr King’s control relating to the affairs of Talacar Holdings and Gaius Atticus be delivered to Mr Murray.
Mr King was also required to hand over the keys of his cars, which include a Ferrari and Volkswagen Cabriolet.
According to the judgment, there was no dispute that Mr Murray had served and explained the order to Mr King in numerous letters. “It is clear that the respondent (Mr King) is deliberately and wilfully obstructing the applicant (Mr Murray) to avoid the preservation order being executed,” the judgment read.
The court ordered Mr King to “purge” his contempt of the order within 24 hours. Failure to do so would lead to a prison sentence of three months suspended for three years, and the sheriff of the court would then be directed to execute the preservation order.
Attempts to contact Mr King for comment were unsuccessful.