Prominent businessman forfeits R3 million joint estate in bitter divorce battle
A seasoned property investor and businessman has chosen to forfeit his R3 million share of the joint estate and walk away from his 24-year marriage to his estranged wife and business partner.
The couple, who cannot be named to protect the identity of their two children, have agreed on a settlement agreement that became an order of the Johannesburg High Court on 24 March, ending a two-year bitter divorce process.
The prominent couple tied the knot in 2001 through a glamorous ceremony in Cape Town, which appeared on SABC3's lifestyle show Top Billing.
According to the settlement agreement, the wife will keep their mansion in Sunninghill, north of Johannesburg, and two cars, while the husband is expected to pay R5 000 for each of their two children.
The settlement agreement read:
The marriage between them has irretrievably broken down and has reached such a stage of disintegration that there is no reasonable prospect of the restoration of a normal marriage relationship.
The document also reveals that one of the reasons for their divorce is that they have lost all love and respect for each other.
'They are incompatible and are not able to agree with one another on various aspects pertaining to the marriage,' read the settlement agreement.
The couple initiated divorce proceedings in 2011 but have been unable to reach and finalise an agreement on how to divide their joint estate.
City Press contacted the couple, but they declined to comment on the matter, citing privacy concerns for themselves and their minor children.
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