LOTTERIES SOUTH AFRICA Gambling group loses court battle against Ithuba 3 years ago Iwo Bulski Post Views: 916 Gambling and hoteling group Hoskens Consolidated Investments (HCI) has lost a court battle it had brought against national lottery operator Ithuba. HCI Invest and HCI Treasury had hauled Ithuba and Zamani Marketing and Management Consultants, among others, to the South Gauteng High Court in an attempt to interdict Ithuba from paying salaries of employees of Ithuba, Zamani or any other entity in the Zamani group. Zamani, which forms part of a consortium of companies that won the lottery licence, manages Ithuba and pays staff salaries. HCI sought an order directing Ithuba to pay its monthly management fee to the attorney Webber Wentzel to hold the money in a trust. HCI also sought to interdict Ithuba from paying the salaries of employees of Ithuba, Zamani or any other entity in the Zamani group. The management contract between Zamani and Ithuba, according to the court document, dates back November 1 2013. Judge J Unterhalter ruled: “The interdicts sought by HCI must be dismissed. The salary relief is not required, and a case has not been made for the fee relief. “HCI sought relief against Ithuba and Zamani. Their opposition has prevailed, and these respondents are entitled to their costs. Given the complexity of the matter, Ithuba and Zamani were justified in their employment of two counsel, and the costs of two counsel are warranted, where two counsel were utilised. The application is dismissed. The (HCI shall pay the costs of Ithuba and Zamani), including the costs of two counsel, where two counsel were utilised.” According to the court papers, HCI provided funding to Ithuba when the company needed funds to run the national lottery. When it became party to the management agreement, HCI acquired a step-in right to oversee the management of the business of Zamani and Ithuba upon the occurrence of a trigger event. “Upon the trigger of the the step-in right and the exercise of the right, HCI’s invest is entitled to a fee equivalent to 1% of Ithuba’s gross monthly revenue,” read the court papers. Source: sowetanlive.co.za About Post Author Iwo Bulski Issues related to the gambling business is engaged in more than 30 years. My empirical experience gives me the opportunity to present events and companies from this business with full knowledge and industry knowledge. See author's posts Iwo BulskiIssues related to the gambling business is engaged in more than 30 years. My empirical experience gives me the opportunity to present events and companies from this business with full knowledge and industry knowledge. Facebook Twitter LinkedIn Email Print Tags: Hoskens Consolidated Investments, ITHUBA Continue Reading Previous South Africa: Lottery Hides Its Beneficiaries Following Corruption ExposésNext Current state of online casinos in South Africa and crypto influence More Stories BETTING SOUTH AFRICA Kambi Group to Continue Supplying SunBet with Solutions 23 hours ago Samuel BETTING SOUTH AFRICA SIS, Kiron Interactive in Africa partnership 5 days ago Szarlot ONLINE SOUTH AFRICA The Rise of Mobile Gaming in South Africa 5 days ago Szarlot LOTTERIES SOUTH AFRICA 18 Lotto Fraudsters Arrested 6 days ago Szarlot CASINO SOUTH AFRICA Wild Coast Sun recognised as best luxury beach resort in South Africa 6 days ago Samuel LOTTERIES NIGERIA Commission DG inspects lottery facility ahead national games 7 days ago Szarlot ONLINE SOUTH AFRICA The Competitive Gaming Scene In South Africa 7 days ago Szarlot ONLINE SOUTH AFRICA 2023 Northern Cape Online Championships 1 week ago Szarlot EXPERTS SOUTH AFRICA Only 2 Months at The BiG Africa Summit 2023! 1 week ago Iwo Bulski EXPERTS SOUTH AFRICA South Africans spent big on groceries, entertainment and fuel in December 1 week ago Szarlot LOTTERIES NIGERIA Meet the Real Owner of Baba Ijebu 1 week ago Szarlot BETTING SOUTH AFRICA Betfred SA denies it owes Joburg City Power over R3m in unpaid lights bill 1 week ago Szarlot Leave a Reply Cancel replyYour email address will not be published. Required fields are marked *Comment * Name * Email * Website Save my name, email, and website in this browser for the next time I comment. Δ This site uses Akismet to reduce spam. Learn how your comment data is processed.