• March 2, 2024

Gold Leaf Tobacco’s Assets Remain Frozen

 Gold Leaf Tobacco’s Assets Remain Frozen
Photo: somemeans

A South African court on Nov. 7 postponed a hearing about the frozen assets of Gold Leaf Tobacco until Jan. 30. 2023, reports News24.  

At the end of August, the South African Revenue Service (SARS) secured a provisional preservation order in court against Gold Leaf and its directors Simon Rudland and Ebrahim Adamjee. The tax agency suspects Gold Leaf and its directors underpaid tax and hidden assets.

The preservation order prevents the tobacco group and its directors from selling any assets while the tax agency investigates the case.

Gold Leaf and Rudland denied any wrongdoing.

According to the provisional preservation order, the initial return date for the case was Nov. 7. At this hearing, the respondents get to argue why the order should not be made permanent.

Gold Leaf holds the distribution rights for brands such as Voyager, RG, Chicago, Sahawi, Sharp and Savannah.