Businessman Lawrence Mulaudzi, who recently bought PSL club Bidvest Wits FC for around R35-million, has been personally dragged to court after his company dribbled media company Strawberry Worx Pop out of its cash.
Strawberry Worx Pop lawyers Saint Attorneys filed papers in the Joburg High Court last week hoping to obtain a court order that will empower them to go for Mulaudzi’s personal assets after his company, Black Gold Capital, which he co-owns with Prince Mulaudzi, failed to pay almost R2-million it owes the Durban-based company.
According to the court papers in our possession, the lawyers said Strawberry Works Pop signed an advertising rental agreement with Mulaudzi’s company on February 5 last year to lease advertising structures to the company owned by the Limpopo tycoon.
They said it was also required to procure the printing of advertising material and display it on the structures. The lawyers said Mulaudzi’s company was supposed to pay Strawberry Worx Pop a total R4.1-million in two instalments.
They said the first instalment of more than R2.3-million was supposed to be paid in January last year, with the second instalment of R1.8-million due before March 15 last year. They said Mulaudzi’s company only paid their client the first instalment but breached the agreement when it failed to pay it the second instalment.
“Despite demand, the defendant continued to refuse and/or neglect to pay the second instalment to the plaintiff, which amount is still due, owing and payable,” read the papers. The lawyers said they obtained judgment against Mulaudzi’s company on November 11 last year in a bid to recover the money but their efforts proved fruitless.
They also said Maluadzi, who sold his Glad Africa side Tshakhuma Tsha Madzivhnadela (TTM) to businessman Simon Malatji, also ignored a court order served on his company on November 14 last year to settle the debt. They said on December 6, they obtained a writ of execution from the Joburg High Court to attach his company’s assets.
They said on January 9, the sheriff went to his company’s office and attached movable assets which if sold, could not offset the debt because they were only worth R25 700. The company is now asking the court to give it the power to go for Mulaudzi’s personal assets as his company does not possess any immovable assets to attach.
