Threat of forfeiture unit reseizing Gupta jet prompted Canadian bank's urgent court bid
The Canadian bank wants the jet grounded, saying the Guptas defaulted on repayments, and to stop them from using it to commit crimes or flee from justice
The Canadian bank that lent the Guptas $41m to buy their Bombardier jet wants to urgently get its hands on the aircraft, as it fears it could be seized by the Asset Forfeiture Unit (AFU). Advocate Alfred Cockrell, appearing for Export Development Canada (EDC), said the Hawks’ raids on Gupta homes, AFU preservation orders for their properties and bank accounts and the family’s decision to switch off the tracking device on their jet, prompted to bank to go to court urgently to ground the aircraft. EDC wants the Bombardier Global 6000 with the tail number ZS-OAK grounded on the basis that the family defaulted on repayments, and to stop it from using it to commit crimes or flee from justice. The bank’s application to ground the jet was being heard in the High Court in Johannesburg on Friday. The application was brought pending the outcome of legal proceedings in the UK to determine whether the bank lawfully terminated its loan agreement with the Guptas. If the Guptas refuse to surrender...
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