June 25 2024 17:30
The Supreme Court of Appeal (SCA) will adjudicate on the dispute between cigarette baron and luxury business group investor Johann Rupert’s Leopard Creek golf estate and the Nkomazi municipality in the next two months, over the property’s valuation.
The SCA, which is the country’s second-highest court after the Constitutional Court, has set aside August 27 to hear an appeal by the municipality, which challenges the ruling of the Mpumalanga High Court in 2023 that set aside its R1.5bn valuation of the property.
Experts hired by Leopard Creek, which is owned by Rupert, valued the property at R330m. Rupert wants a lesser value so that he can pay lower municipal rates.
alistair@propertyflash.co.za
