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BUSINESSMAN’S E10.7M ESTATE DISTRIBUTION STOPPED

12/02/2021 00:22:00 BY MBONGISENI NDZIMANDZE

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MBABANE - The distribution of over E10 million cash in the estate of the late popular Pigg’s Peak businessman Elliot Lontinga Maseko has been halted.

This comes after some of his children, Selby, Nolwazi and Bongani filed an application at the High Court. The trio is seeking an order reviewing and setting aside the ruling of the master of the High Court. They also want the businessman’s two wives to be removed as executors.

The late businessman, who owned a lot of properties in Pigg’s Peak and Mbabane, had 15 children and two wives. The exact amount available for distribution as per the Liquidation Account is E10 774 389.80. The total assets in the estate of the late businessman amount to E12 345 389.90.

Wives

Respondents in the matters are the master of the High Court and the two wives of the late businessman, Joyce and Louisa, who are co-executors in the estate.

The registrar of deeds and the attorney general have also been cited as respondents in the matter.

In his founding affidavit, Selby who is the son of the late businessman, submitted that in the application they were seeking a review of the master’s decision wherein their objection to the Liquidation and Distribution Account was refused and deemed to be without merit. He said they were also seeking an order directing the master to furnish the High Court with the record of proceedings, including the estate file within 14 days upon receipt of the application.

Selby and his two siblings, who are applicants in the matter, also want the court to order the removal of Joyce and Louisa as executors of the estate.

Honest

They claim that the duo of Joyce and Louisa had not administered the estate in a fair, reasonable and honest manner as expected of a person in the position of an executor. Selby applied that an independent party should be considered for the position of the executor.

“Myself and further applicants also apply that the transfer of the immovable property of the estate be stayed or suspended pending finalisation of the matter. This is because the transfer of the property is to an unnamed beneficiary and is done in terms of the irregular liquidation and Distribution Account,” submitted Selby.

These are allegations whose veracity is still to be tested and the respondents are yet to file their papers.

Selby narrated to the court that his father died on September 23, 2009 and he was survived by his two wives (Joyce and Louisa). He further disclosed that the deceased had 15 children. According to Selby, in and around January 2011, the death of his father was reported to the master of the High Court. He highlighted that the two wives were appointed executors.

“I humbly submit that an inventory was compiled detailing the assets of the deceased at the time of his death. This inventory was not complete as it did not include some of the deceased’s property, including immovable property and cash collected mainly after our father’s death,” he argued.

Inventory

He alleged that the person who was shown to have compiled the inventory appeared to be Joyce.

“Also not included in the inventory is the deceased’s interest in a company called Lontinga Investments (PTY) Limited. Joyce, Louisa and the master of the High Court are aware of the shares held by the deceased in the said company at the time of his death. This company was registered in the year 2003. Myself and the deceased were its directors and shareholders,” he argued.

Selby went on to tell the court that Lontinga Investments (PTY) Limited was employed as the estate agent for all the deceased’s business properties situated in Pigg’s Peak town. He alleged that the company collected rentals and was responsible for maintaining the buildings among other duties.

He claimed that the immovable property was registered in his father’s name and the balance of proceeds from the rentals would be accordingly credited to the deceased’s bank account. “By willfully negating to exclude the shares held by the deceased in the company was an irregularity which rendered the inventory and subsequently the Liquidation Account invalid,” argued Selby.

He contended that his father’s estate would not be prejudiced by an inclusion of his (father) interest in the company as all the heirs would be guaranteed a share from the rentals.

“I have been personally accused of collecting rentals and the allegation is that I owe the estate a sum over E2 million. I have never personally collected any rentals, but this was done by the company. I am not personally liable for the debts of the company if there are any towards the estate,” he argued. It was further his submission that the deceased’s two wives had allegedly failed to exercise due care and honesty as required of a person in the position of an executor.

“They have shown that they cannot be trusted with estate property as their action is in conflict with the estate. They have failed to separate their roles as executors to that of being beneficiaries of the estate,” avowed Selby.

Executors

According to Selby there was no dispute that the two executors had allegedly conducted their duties dishonestly. He further accused the duo of also having shown untrustworthy conduct of allegedly misrepresenting material facts.

Selby argued that he had been advised and verily believed that it was undesirable for them to continue in the office of the executor and would detrimentally affect the total worth of the estate.

The applicants are represented by Sifiso Jele of SM Jele Attorneys and the matter is still pending at the High Court.