Young guns fight over millions

Moitsheki 'Checks' Lekalake has brought a petition before the High Court that Botswana's Michael Shumacher, Atang Makgekgenene, be placed under compulsory sequestration for failure to pay a personal loan of R11 million he was advanced.

In the petition, Lekalake states that he loaned Makgekgenene the money in three tranches. On November 14, 2008, he loaned Makgekgenene R3 million; on December 13, 2008, he gave Makgekgenene a further advance of R1.5 million; the third instance involved the sum of R6 million on February 3, 2009. According to Lekalake, the agreement between the parties was that Makgekgenene would pay all the sums advanced to him upon demand and that the payment would be made in United States dollars.