Sentula settles in Scharrighuisen case

SENTULA Mining on Friday announced that it was making progress regarding legal action it has taken to recover funds that the group says have been “misappropriated” by former director and founder Casper Scharrighuisen’s estate.

The mining contract services provider had earlier started legal action against Mr Scharrighuisen, in a R393m civil claim against his estate. Last week, the company said it had entered into a settlement agreement with Marinvia Trust, the CIMS Trust, Sylco, Mr Scharrighuisen’s wife, Clasina Scharrighuisen, and family member Marcel Scharrighuisen, who had agreed to pay an amount of R40m into the trust account of law firm Cliffe Dekker Hofmeyr.

This was in respect of the release action, the preservation application, the Megacube Mining and Marinvia Trust action, and the crane application. These were civil suits previously undertaken by Sentula.

“The settlement payment shall be made within 15 business days of April 4,” the company said.

In November 2011, Ms Scharrighuisen instituted an action against the trustees for an order releasing such property to herself. In September 2011, Megacube, a subsidiary of Sentula, had instituted an action in the Western Cape High Court against the trustees of the Marinvia Trust for payment of R34m.

During October

2011,

the trustees of Mr Scharrighuisen’s insolvent estate had launched an urgent application in the Western Cape High Court for an order preserving the property of his wife and certain related entities, pending conclusion of the release action instituted by her, which was granted in August last year.

Last Thursday, an agreement was concluded in terms of which the following matters were settled: Ms Scharrighuisen’s action against the trustees of Mr Scharrighuisen’s insolvent estate for the release of property, the application by the trustees of Mr Scharrighuisen’s insolvent estate for the preservation of property assets of Ms Scharrighuisen and related entities, and Megacube’s action against the trustees of the Marinvia Trust.

Sentula also settled an application launched in 2009 by Caston Plant Sales, Megacube and Sentula against Mr Scharrighuisen, Marcel Scharrighuisen and Sylco Plant Hire, regarding a dispute over the ownership of a crane.

The agreement does not affect the civil judgments against Mr Scharrighuisen, Sentula said.

“From the (Cliffe Dekker Hofmeyr) trust account, 50% of such amount will be paid to Megacube and the other 50% to the trustees of Mr Scharrighuisen’s insolvent estate, in which estate Megacube is a creditor,” the company said.

The settlement of the four matters would become effective on receipt of the settlement payment, Sentula said.