Judgment: RK Pollock NO & Others v TP Mphephu & Others

03 March 2026

Dear Member

The joint liquidators of Vele Investments (Pty) Ltd (in liquidation) brought an application against the respondents for the recovery of money that was stolen from VBS Bank and laundered through Vele Investments, a shareholder of VBS Bank.

The application was brought in terms of Section 26 of the Insolvency Act, 24 of 1936 alternatively on the basis of unjust enrichment.

Gautschi AJ found that the respondents had failed to provide a valid defence and granted the application with costs.

Kindly sent to us by Amy MacKechnie of Werksmans Attorneys.

Take care

René Bekker
Chief Operating Officer

  Judgment: RK Pollock NO & Others v TP Mphephu & Others. Case No: 2024/5694