Eswatini Daily News

By Lwazi Dlamini

  • ESWIG loses application with costs at attorney-client scale including certified fees for counsel
  • Dave Van Niekerk to file their supplementary heads of argument on or before June 17, 2024
  • Status Capital Building Society expected to file answering affidavit on or before 17 May 2024

South African businessman Dave Van Niekerk and Edwin J Soonius comprehensive answering affidavit filed on February 15, 2024, has seen ESW Investment Group (ESWIG) ending up footing the bill for their application in court.

While the shares held by Dave Van Niekerk with Ecsponent, now ESW Investment Group remain frozen, the High Court on Friday ruled that the applicant (ESWIG) must pay costs at attorney-client scale including certified fees for counsel.

DAVE VAN NIEKERK

The ruling extending the interim order was handed down by High Court Judge Justice Zonkhe Magagula.
The matter will return to court on June 21, 2024, for arguments.

The order by the High Court that the 3rd respondents (Status Capital Building Society) file their answering affidavit on or before May 17, 2024.

“That the Applicants (ESWIG) and 3rd respondents (Status Capital Building society) file their heads of arguments on or before the 24th of May 2024.,” part of the order reads.

Dave Van Niekerk and Edwin J Soonius are expected to file their replaying affidavits, if any, on or before 24 May 2024.

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A case is pending at the High Court where Van Niekerk has been taken to, regarding the lost E340 million investments of about 1 400 emaSwati.

The ESW Investment Group brought an urgent ex-parte application on December 22, 2023, to the High Court pursuant to which a court order was granted.

An ex-parte application is used for one party to ask the court for an order without providing the other party or parties the usual amount of notice or opportunity to file an opposition.

An interim order was granted with a return date of February 16, 2024. Dave Van Niekerk and Edwin J. Soonius delivered a comprehensive answering affidavit on February 15, 2024.

On the return date of February 16, 2024, the interim order was extended to March 22, 2024, to allow the ESW Investment Group to deliver its replying affidavit.

ESW Investment Group did not deliver its affidavit on March 22 and the interim order was once again extended to May 3, 2024.

The matter will return to court on June 21, 2024 for arguments.

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Two months ago, Dave Van Niekerk said he was willing to help the distraught investors of the now defunct Ecsponent trace the lost E340 million.

The investors met on Friday at Mfanyana Hall in Manzini where they resolved to seek audience with His Majesty King Mswati III to intervene on their behalf.

This was one of the resolutions taken during the well-attended and emotional special general meeting.

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