At least R4m worth of fine art was attached from a home, once occupied by DNG Energy founder and CEO, Aldworth Mbalati, 40, in the second richest street in SA, Killarney Road, Sandhurst, on Thursday.
Vehicles from the Candice Berman Fine Art Gallery enter the Sandhurst home of DNG Energy founder and CEO Aldworth Mbalati on Thursday to repossess artwork valued at 4m.At least R4m worth of fine art was attached from a home once occupied by DNG Energy founder and CEO Aldworth Mbalati, 40, in the second richest street in SA, Killarney Road in Sandhurst, on Thursday.
Berman said Mbalati acquired R4m worth of art from her gallery in May, many of the items being commissioned from various artists. DNG Energy founder and CEO, Aldworth Mbalati, 40, says he made his first million by the time he was 21.“It’s been seven months now, and this was the last straw. We attached 50 items worth about R4m in total. He originally acquired the pieces in May, and it’s been a series of promises by him to pay, which he never did. We sent numerous letters of demand but no answer.”
SowetanLIVE's sister publication The Sunday Times reported that Mbalati was evicted last week after a legal dispute in the Johannesburg high court with the owner of the property, Australian-born investment tycoon Angus Murray.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Gqeberha blaze: Firefighters keeping close watch for flare-ups | The CitizenThe fire in the New Rest informal settlement in Gqeberha, Eastern Cape, was contained on Wednesday. Firefighters are monitoring the situation for flare-ups.🔥
Read more »
REITUMETSE MOLOTSOANE: SA will see real change soon due to the Just Energy Transition PartnershipSolid and actionable scheme for transitioning SA to a low-carbon economy
Read more »
More finance needed for Africa's energy transition opportunitiesAfrica's transition to cleaner fuels and power generation presents investors with opportunities across the value chain, but more direct financing is needed on projects, the head of a South African independent power producer, said on Thursday.
Read more »
Melanie Verwoerd | The Cabinet needs new energy | News24OPINION | Given the impact of climate change on the developing world, Melanie Verwoerd writes that it is high time we had a Cabinet portfolio who dealt with this issue. She makes the case for a Cabinet reshuffle.
Read more »
Reserve Bank flags risks of erratic energy supply, high debtThe country has seen 170 days of rolling blackouts this year, hitting corporate productivity and hurting investor sentiment.
Read more »