Moti and his associates accuse Lutzkie of having tried to force them to buy his shares back at an extortionate price, using a series of what they characterise as"abusive" court applications based on false claims intended to portray Moti in a bad light.
Moti was arrested in Germany in 2018 after an Interpol notice was issued against him in a case allegedly stemming from a fallout with Russian businessman Alibek Issaev.The Issaev dispute also revolved around a rare R500-million pink diamond, which Moti and his associates accused Issaev of stealing from them.
Lutzkie claims that in 2019, having returned from his stint in prison in Germany, Moti was heavily exposed to Investec Bank, which FerroChrome Furnaces owed R1.8 billion. According to Lutzkie, he had agreed with Moti that the joint venture's profits would be split according to shareholding. That meant 30% would go the BEE partner, Imbani Minerals.
They suggest that Moti encouraged Lutzkie's belief that the profits would flow freely in proportion to his shareholding. He says he only later discovered that all of Kilken's cashflow was ceded to a Glencore-linked company referred to as KCo, cutting him out as a shareholder. One is a letter from July 2020 signed by Kilken director and former Moti confidante Ashruf Kaka and addressed to Imbani, the BEE partner in the joint venture.
A second document revealed by Lutzkie is a"strictly private and confidential" memorandum of understanding between Moti Group companies and KCo from 9 January 2020 – a week before the initial agreement with Lutzkie was signed. The memorandum notes that"If Moti Group disposes of a part or their entire interest in the Kilken JV and does not settle the balance due to KCo… then arrangements in terms of this document will remain in place".
He argues strongly that Lutzkie has abused the court process by seeking urgent relief for a matter that was not inherently urgent. But he seemingly cannot point to anywhere in the most recent audited accounts where the benefit flowing to Moti in the form of debt repayments assumed by Kilken is disclosed and accounted for.
"The dividends and distributions payable to the purchaser from the purchaser's direct and indirect shareholding in the company will be calculated exclusive of any obligations by the company to Glencore." Moussa was killed in an apparent hit on 20 August this year when his car was ambushed by gunmen near Carletonville.
Lutzkie was named in connection with the 2011 disappearance of Ralph Haynes, the"godfather of the West Rand" who was once part of a gang that included apartheid hitman Ferdi Barnard. Willoughby's affidavit reads:"Lifman advised Moti that Lutzkie wished him to convey to Moti that he wanted approximately R1 billion for its minority shareholding in Kilken failing which Moti would be 'sorted out' and 'terminated'.
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