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December 5, 2009
Watson brothers at heart of bitter BEE deal dust-up
Accusations fly and creditors claim millions in liquidation battle
Ciontroversia businessman Gavin Watson's name has emerged in a messy liquidation scrap involving his brother's mining empowerment company.
Watson is one of several creditors who claim - in what has been described as an "underhanded" liquidation - that they are owed R51-million by Xelexwa Investment Holdings following a disputed 2005 deal between mining giant JCI and Simmer & Jack. The deal saw Xelexwa, through a previous entity, acquire 26% of Simmer & Jack.
Posted by StaffWriter at December 5, 2009 2:11 PM