Latest news with #R660
The Citizen
a day ago
- Business
- The Citizen
Radebe speaks on settlement reached between ELM and Randwater
SEDIBENG. – The Executive Mayor of Emfuleni Local Municipality (ELM), Sipho Radebe recently announced his delight in announcing a landmark settlement agreement between ELM and national water supplier Rand Water. The settlement, Radebe said, was facilitated through the Intergovernmental Relations (IGR) Forum. This agreement is said to have resulted in the upliftment of ELM's bank accounts, marking a significant step towards stabilising the municipality's financial position and ensuring the continued provision of water and sanitation services to our communities. 'We extend our sincere gratitude to the Gauteng MEC for Cooperative Governance and Traditional Affairs (COGTA), Hon. Jacob Mamabolo, for his leadership and continued support in ensuring a constructive and solution-driven engagement between the parties. The key terms of the Agreement include an initial payment of R660 million has been made to Rand Water. There will be further engagement,' the ELM said. The parties are said to have have committed to reconvene in September to finalise a sustainable payment plan that is mutually acceptable. 'This agreement not only resolves the immediate financial impasse but also paves the way for the uninterrupted establishment of the Partnership between Emfuleni and Rand Water under the Special Purpose Vehicle (SPV), a critical intervention aimed at accelerating the restoration of water and sanitation infrastructure in Emfuleni.' Radebe said that he views this settlement as a pivotal milestone in the municipality's broader efforts to address infrastructure challenges and improve service delivery. 'This agreement is a symbol of what can be achieved through collaborative governance and constructive dialogue. It represents a major leap forward in our mission to restore the dignity of the people of the Vaal by ensuring reliable water and sanitation services,' said Mayor Radebe.' Radebe commend the following leaders and institutions for their commitment to finding an amicable resolution: Rand Water Board Chairperson, Ramateu Monyokolo, and Group Chief Executive Sipho Mosai. Emfuleni (ELM) Municipal Manager (MM), April Ntuli, and the leadership of both institutions.
IOL News
09-08-2025
- Business
- IOL News
Court ruling lifts R660,000 reserve price on property auction in Durban
Durban High Court has ordered removal of R660,000 reserve price after two failed auction attempts Image: File The Durban High Court has ordered the removal of a R660,000 reserve price for the sale in execution of a property following two failed auction attempts. The court heard that previous sales in execution held in July 2022 and February 2024 had failed to attract bidders, despite attempts to lower or lift the reserve price during the auctions. The property, with an estimated market value of more than R1 million and forced sale value of R1,050,000, remained unsold due to the R660,000 reserve price barrier. The property owners' financial situation had deteriorated significantly since the court ordered that the reserve price be R660,000 nearly four years ago. Their arrears to the Changing Tides 17 (Pty) Ltd had grown to more than R824,270.16, with R375,773.67 representing arrear instalments. Additionally, the couple owed the eThekwini Municipality R412,842.61 as of March 2024. Judge Robin Mossop SC presided over the reconsideration application brought by Changing Tides, which sought to remove the fixed reserve price that had prevented the successful sale of the couple's immovable property. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Next Stay Close ✕ Changing Tides asked to be permitted to put up the property at a third sale in execution without a reserve price being fixed. In an affidavit, one of the owner's asked the court to dismiss the application with costs, on the basis that it is procedurally redundant, an abuse of process, and improperly motivated. The court said it would not consider the unsigned affidavit. Judge Mossop said the owners did not say what must be done about the reserve price. 'This is perhaps understandable given the fact that (they) are not represented,' he said. Moreover, Judge Mossop emphasized the procedural nature of the reconsideration process under Uniform Rule 46A(9)(c). "It seems to me that this sub-rule is simply a procedural tool to enable the establishment of a way forward where the fixed reserve price of a property declared specially executable has not been achieved," he stated. The judge clarified that the reconsideration was not an adversarial process. "The reconsideration prescribed by rule 46A(9)(c) is a procedural requirement; it is not a process that can be opposed. It is a process in which the court must consider any relevant evidence put before it, but the process is not an adversarial one," Judge Mossop explained. Considering the mounting financial pressures faced by the owners, Judge Mossop stressed the urgency of disposing of the property. He considered the lapse of time since the order of R660,000 and the worsening indebtedness of the couple. 'It appears to me to be imperative that the property be disposed of as quickly as possible," Judge Mossop ruled. No costs order was made in the matter, meaning each party will bear their legal expenses related to the reconsideration application.
IOL News
23-07-2025
- Sport
- IOL News
Underberg Gran Fondo: A scenic cycling challenge in the Drakensberg
The foothills of the Drakensberg Mountain will host hundreds of riders on Saturday when they tackle the famous mountain range in the annual Underberg Gran Fondo gravel cycle race. The event, which is considered one of the most scenic on the South African cycling calendar, gives cyclists the choice of three distances, 140km, 94km or the family-friendly 45km Tour de Farms – to test themselves under the spectacular backdrop of the uKhahlamba Drakensberg World Heritige Site. All three races will take riders through Bushman's Nek area before entering the Coleford Nature Reserve, where they will see black wildebeest, blesbok, and possibly the rare Wattled Crane. The 2024 champions of the gravel race, Team Drive Train Academy's Tyronne White and one of his trainees, Sanchia Malan from Index Property Solutions, are both expected to return to defend their titles. The race will begin at 8am. All events start and finish at The Olde Duck restaurant just outside Underberg and follow the same route until first the 41km. The 90km follows the same route as the long event for just over 60km, and just after the big climb out the Ngwangwane Valley, the riders split away and head back to Underberg. The 140km riders loop around and return through Himeville and then Underberg back to the fees until Wednesday, July 23, start from R660 for the 45km to R1045 for the 140km. Entries close on Wednesday at SUNDAY TRIBUNE
