KING’S JET RETURNING TO SD

MBABANE – The state jet, named Siyinqaba, which was attached in Canada, could be on its way back to the country.

This follows a settlement reached by government and former Salgaocar boss Shanmuga ‘Shan’ Rethenam over a financial dispute, which has dragged for about two years in various courts abroad.
The plane, a McDonnell Douglas DC-9 jet was initially impounded in Canada and government paid a guarantee of US$3.5 million (about E49 million) before it was released. Shan lost the case in Canada.
About four months later, ‘Shan’ impounded the aircraft again, on the strength of what he called a ‘worldwide freezing order’.

He obtained an order from a judge in the Commercial Division of the Eastern Caribbean Supreme Court in the British Virgin Islands freezing the jet and its engines in South Africa and England, respectively.
‘Shan’ has an aviation firm in the British Virgin Islands.
Sources who spoke to us on condition of anonymity said government and ‘Shan’ have finally agreed to settle the matter. “The matter was settled out of court and all matters that were before the courts in Canada and the British Virgin Islands were withdrawn,” said the source.

The source also said the country would not make any loss from the whole debacle because the plane was on its way to the country. “Government has not paid a cent to Shan. The settlement was amicable to both parties. It was reached after intense negotiations that lasted months.” 
The Times SUNDAY has been reliably informed that government has since been paid back the money, amounting to over US$3.5 million.

This money was repatriated by government to Canada as a guarantee for His Majesty King Mswati III’s jet.
This was after the court had determined that the money should be paid as guarantee before the plane was released to the country. The money was released after the matter that was filed by ‘Shan’ in a number of courts in Europe was withdrawn when the settlement was reached.

As part of the settlement, the country’s assets were returned.

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