/Going, going … gone! Bosasa’s assets to be sold off in massive two-day auction

Going, going … gone! Bosasa’s assets to be sold off in massive two-day auction

Have you ever wondered what it feels like to sit in the driver’s seat of the luxury German SUV of late Bosasa CEO Gavin Watson?

Or what it feel likes to maybe take an office chair, previously occupied by the now infamous former COO Angelo Agrizzi, for a spin down the halls of Bosasa’s massive head office (or “smart global campus”) in sunny Krugersdorp?

Now’s your chance.

Bosasa’s assets are to be auctioned off – everything from Watson’s metallic blue BMW X5, to Massey Ferguson tractors, refrigerated trucks and bakkies, as well as quad bikes and even golf carts – are up for grabs.

EXTRACT | Blessed by Bosasa: Inside Gavin Watson’s ‘cult rituals’

But that’s not all. A smorgasbord of office furniture, artworks and paintings, Nespresso coffee machines, microwaves and deep fryers as well as dishwashers, tumble dryers, computers, laptops, televisions and high-quality camera systems, will go under the hammer.

Bosasa, as a security company, also owned large numbers of top-end security equipment, including metal detectors, handheld scanners and bulletproof vests.

But wait…there’s more!

On Day Two of the auction, Bosasa’s extensive property portfolios will also be up for sale.

Bosasa, Park Village Auctions

An advertisement for the auction of Bosasa’s assets. (Supplied)

These include the corruption-accused company’s head office, the “smart global campus” in Luipaardvlei, near Krugersdorp, a huge 8.2-hectare property, complete with canteen and restaurant, as well as a warehouse and large office spaces.

A 26-hectare property on which sits the Lindela Repatriation Centre, is also for sale, as well as a 9.2-hectare property on which sits Bosasa’s copper plant.

The repatriation centre property includes hostel buildings, a youth development centre, a workshop and residential development.

Meanwhile, the copper plant has a copper rod production capacity of 32 tonnes per annum.

ALSO READ: Future of corruption accused Bosasa set to be decided by Supreme Court of Appeal

Bosasa, now named African Global Operations, and its subsidiary companies were placed under voluntary liquidation in February this year.

This followed notices issued to the directors, by two major banks that operated accounts for Bosasa, that it would be closing the accounts due to the reputational risk associated with the company.

Last week, the liquidators of Bosasa – Ralph Lutchman, Tania Oosthuizen and Cloete Murray – were in the Supreme Court of Appeal (SCA) to keep Bosasa under liquidation.

The Bosasa board, led by the now late Watson, filed an urgent application in the Gauteng High Court in Johannesburg in March this year and were successful in having the liquidation set aside.

Murray and the other liquidators filed an appeal with the SCA, however, which was heard on Friday. Arguments lasted barely an hour.

In the meantime, the liquidator’s powers have been extended by court order, resulting the auction of the assets.

News24 understands the viewing date has been set down for December 3 by Park Village Auctions and the auction is scheduled to go ahead on December 4 and 5.

Original Source