He is unlikely to get R2,5m he wants for court battle

The state is set to release some of Schabir Shaik's R40-million which it is holding under curatorship pending the outcome of a Constitutional Court appeal over the confiscation of the money.

But it was unlikely that Shaik would get the R2,5-million he wants to fund the court battle. Last week the imprisoned businessman, through his lawyer Reeves Parsee, made an urgent application in the Durban High Court for the money to be released, saying that while he and his companies had substantial assets and working capital, they had little cash to fund the appeal.

The Constitutional Court refused him leave to appeal against his fraud and corruption convictions relating to his relationship with ANC deputy president Jacob Zuma, and against his 15-year prison sentence.

However, it gave him leave to challenge the state's bid to confiscate R33-million found to be ill-gotten gains from his corrupt relationship with Zuma.

In correspondence prior to the application being launched, the Asset Forfeiture Unit said it would not release the money, saying R2,5-million seemed "grossly unreasonable" and that the case, set down for February next year, was more likely to cost R500 000.

According to an annexure to the court papers, Parsee has estimated the cost of a senior advocate to be R900 000 for 30 days' work and that of a junior to be R600 000.

The balance was for his fees and the cost of compiling the appeal record, accommodation, air travel and car rental.

Yesterday, when the matter came before KwaZulu Natal Deputy Judge President Phillip Levinsohn, it was adjourned until next Friday.

Parsee said the matter had been "settled in principle".

It was believed that the parties were still haggling over the final amount and that Shaik would not get the full R2,5-million he requested. Whatever figure is finally agreed on would be made an order of the court.

Shaik was expected to give the court-appointed curator, Trevor White, 250 Cellsaf shares valued at about R10-million - in return.