The hits keep on coming for Phumelela

It seems that Phum's voluntary announcement about their precarious financial position last week was not the full disclosure as to the problems that are currently besetting them. I am reliably informed by someone very much in the know that there is an application pending in the High Court for the court to confirm that Phum's licence to race at Turffontein was automatically cancelled because Phum has not complied with its obligations in terms of provincial laws. If P lose this case the ramifications are dire for obvious reasons.

please elaborate. is this the same situation where the50 % was allowed to expire and fell away by default

Jim the guy who told me about this is well connected and has given me info that has checked out before. The bottom line according to my source is that Phumelela have allegedly violated the Gauteng Gambling Act and have been taken to court in this regard. The NHA are apparently a co-respondent in this action.

44.3 A licence to RACE under the RULES shall be automatically cancelled if a RACING OPERATOR ceases to conduct itself in a manner which conforms with legislation in force for the time being in the Province in which the RACE COURSE on which the RACING OPERATOR intends to hold RACE MEETINGS is situated.

I will ask for more detail and post later.

wow. management just cant keep their eye on the ball. thanks for the update

What`s a "co-respondent"?

It usually means that the action is being directed against two or more entities.

(eg Back in the day when infidelity was an issue in divorces the co-respondent was usually the lover of the married party in a divorce action brought by the aggrieved partner).

Garrick wrote: It usually means that the action is being directed against two or more entities.

" (eg Back in the day when infidelity was an issue in divorces the co-respondent was usually the lover of the married party in a divorce action brought by the aggrieved partner).

"'

Sounds apt !

If this is true and Phumelela were aware of it, should it not have been disclosed or included in their SENS announcement ?

Bob Brogan wrote: What`s a "co-respondent"?

Both Phumelela and the NHA were served.