Phosa's mine wins R119m in default judgment against security firm

The Johannesburg High Court has granted a default judgment against Qomkufa Security Company, ordering the company to pay Transasia 1, an international company co-owned by ANC stalwart Mathews Phosa and mining magnate Luda Roytblat, a staggering R119.25-million.

- 

The ruling in favour of Transasia 1, represented by Adv Kennedy Tsatsawane SC and Thomas Sibuyi's TTS Attorneys, also includes interest at 11.75% from the date of summons to the date of payment.

The case, heard before Judge Allyson Crutchfield on Thursday, involves Transasia 1 suing three defendants, including Caterpillar Financial Services SA and the sheriff of the high court in Dundee and KwaZulu-Natal, after an excavator was taken from Phosa's mine, which led to a civil dispute and a separate robbery case.

While the liability of the other defendants is yet to be determined, the court ruled that Qomkufa Security Company is jointly and severally liable for the amount, with the one paying absolving the others.

In addition to the quantum amount, the court ordered Qomkufa to cover the plaintiff's legal costs on a scale.