The Gauteng High Court in Pretoria has dismissed businessman Morgan Maumela and the MHR Maumela Family Trust’s urgent bid to stop the Special Investigating Unit from selling his R11.1 million Ferrari SF90 Stradale.
The luxury vehicle is among the assets preserved in connection with the SIU’s investigation into alleged corruption and maladministration at Tembisa Hospital, where approximately R2 billion is alleged to have been looted.
Maumela and the trustees approached the High Court seeking to prevent the sale while they challenge an order by the Special Tribunal authorising the vehicle’s disposal.
The Tribunal had authorised the Ferrari to be sold for no less than R9.5 million, with the proceeds to be preserved pending the outcome of the main proceedings.
The High Court found that the Tribunal’s order was an interim order and was therefore not automatically suspended by the appeal process.
The court further found that Maumela and the trust had failed to establish a clear right to stop the sale, demonstrate reasonable prospects of success on appeal or show that they would suffer irreparable harm if the Ferrari was sold.
The court also noted that the value of the vehicle would remain protected because the proceeds of the sale must be deposited into an interest-bearing trust account pending the outcome of the broader proceedings.
The Ferrari was reportedly purchased for more than R11.1 million in April 2022. The decision to allow its sale was previously linked to the costs of storing, insuring and maintaining the vehicle while the legal proceedings continue.
The latest ruling therefore clears the way for the SIU-appointed curator to proceed with the sale.
The trustees of the MHR Maumela Family Trust were ordered to pay the costs of the urgent application.
The preservation and sale of the Ferrari form part of the SIU’s broader civil recovery efforts relating to alleged corruption at Tembisa Hospital. The allegations remain subject to ongoing legal proceedings.
