A Warrant of Execution against property was granted in 2011 against SJ Car Sales, only R 7, 709.46 was recovered in auction. This was a very long legal process and still an oustanding amount of R 54, 290.54 not recovred, SJ Car Sales are not even willing to make monthly payments.
The Legal advises told me that SJ Car Sales only owns encumbered assets and no immovable property.
As the assets are encumbered it will be of no use to sell them in execution as SJ Car Sales is not the title holder, a finance company is.
Klerksdorp Civil invetigations confirmed that " Mr. Y Motan did not discuss the financial position of the business with us. His brother did which is Joe. Sue & Joe's Car Sales CC is a close corporation. It is well established. It has a high potential income. Sue & Joe's Car Sales CC sales an average of 3-4 vehicles per day. The profit margin on each vehicle is between R7 000.00 and R8 000.00 depending on the vehicle's condition. The profit per day is approximately R10 000.00 per day. Help the poor soul that is going to make a purchase from SJ Car Sales. The Law has failed for me and Joe is laughing all the way to the bank.
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