Appeal court rules Aurora directors must pay salaries of 5,300 employees
FORMER directors of Aurora Empowerment Systems were denied on Thursday leave to appeal against a judgment that found them personally liable for all debts and liabilities incurred in the mismanagement of Pamodzi mines.The five-year battle over who is liable for R122m in “missing” gold production, what liquidators maintain is R1.7bn in depreciation and loss of assets, and several million rand worth of lawyers’ fees may continue, pending clarity on possible sequestration of any of the directors’ assets.John Walker, the lawyer representing the liquidators, said on Thursday the first stage following the Supreme Court of Appeal’s dismissal of the application was to recover legal fees. Should this fail, then sequestration proceedings would begin.Once the costs of counsel were settled, focus would fall on proving liability for R122m worth of gold, considered to be a more easily proven claim than the others.Quantifying the damages under the management “would require further evidence being le...
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