LIQUIDATOR’S REPORT
Gavin Watson paid R5m ‘performance bonus’ a mere two weeks before Bosasa liquidation
Bosasa boss Gavin Watson was paid a R5m "performance bonus" by his beleaguered group of companies — accused of being at the centre of massive government tender corruption — less than two weeks before those same companies were placed under voluntary liquidation. Evidence of a January 30 payment was contained in documents filed by Bosasa group liquidator Cloete Murray at the high court in Johannesburg last week in response to an application by the Bosasa group (now trading as African Global Operations) to "reverse" the provisional liquidation and wrest control of its 10 subsidiary companies out of the liquidator’s hands. Acting judge Goolam Ameer ruled in African Global Operations’s favour last week. The group was placed under voluntary liquidation on February 12 as a result, it said at the time, of a decision taken by its banks, FNB and Absa, to shut down its accounts. According to Murray, the only banking facilities they have — at Standard Bank — were opened by the liquidators. Amee...
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