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Local News|
Monday, August 22, 2005 - Web posted at 8:37:56 GMT Nico Josea's assets listed for attachment Josea received N$29,5 million from the N$30 million Avid Investments secured from the Social Security Commission. |
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On Thursday evening, the SSC's legal counsel went through a list of Josea's assets that have been listed for attachment. They include the following: PROPERTY : A house in Suiderhof, Windhoek. No bank valuation provided. He paid N$300 000 into his home loan since securing the Avid Investment. Four erven in Aus. Valued collectively at N$160 000. VEHICLES: SSC legal counsel Andrew Corbett noted before the court that Josea went on a "spending spree" when it came to buying vehicles and bought them in a short space of time - leading the SSC to believe that they were purchased with its money. Toyota Prado 4X4: Already attached. Bought in 2004 for N$257 000. Volvo: No details provided. Recently purchased. VW Golf : Bought in February for N$218 000. Josea said the vehicle was parked at a friend's house in Johannesburg he used it when he travelled there. He said his Johannesburg-based lawyers would arrange for it to be handed over to the liquidators Opel Corsa 1.7 DTI: Bought in March for a certain W Josea living in Springbok, South Africa. Isuzu Bakkie: Already attached. Bought for N$203 000 from Auas Motors in Windhoek. 1998 Toyota Stallion: Belongs to Josea's business Crown Builders. 1997 Mercedes: Registered in wife's name. Valued at N$113 000. 1990 Toyota bakkie: Valued at N$46 000. POLICIES: Old Mutual policies for him and his wife, valued at N$2,3 million. |
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PO Box 20783 - Windhoek - 42 John Meinert Street Tel: +264 (61) 279600 - Fax: +264 (61) 279602
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