Luxury homes, pensions and Mercedes vehicles at centre of former SOE boss’s divorce

The wife of a former state-owned enterprise CEO has launched divorce proceedings seeking division of their multimillion-rand joint estate following claims that they lived separately for more than a year and that their marriage has broken down irretrievably.

Court papers filed in the Johannesburg high court reveal a bitter dispute over luxury properties, pension interests and high-end vehicles forming part of the couple’s joint estate. They are married in community of property.

In the particulars of claim, the wife states that the marriage relationship “has broken down irretrievably and has reached a stage of disintegration such that there are no reasonable prospects for the restoration of a normal marriage relationship between the parties”.

She further claims that the parties “have not lived together as husband and wife for a period exceeding 12 months” and that she no longer considers the marriage reconcilable.

The divorce battle is expected to centre largely on the division of the estate, which includes at least four immovable properties situated in Gauteng.

According to the court documents, the wife wants two properties — one in Rembrandt Park, Johannesburg, and another in Sandhurst — to be sold on the open market, with the proceeds divided equally between the parties after settlement of outstanding obligations.

The Rembrandt Park property is financed through First National Bank, while the Sandhurst property is described in the papers as fully paid.

She is, however, proposing that the former state-owned enterprise CEO retain sole ownership of two Pretoria properties situated in Waterkloof and Mamelodi.

But the most financially significant aspect of the proceedings may lie in the pension and retirement annuity interests linked to the former executive.

The summons also details luxury vehicles forming part of the estate.

The wife seeks to retain ownership of a Mercedes-Benz C200, while the husband would retain a Mercedes-Benz S500.

But the most financially significant aspect of the proceedings may lie in the pension and retirement annuity interests linked to the former executive.

In the papers, the wife seeks 50% of pension interests held with Sanlam Glacier and Alexforbes, arguing that the benefits “are deemed to be part of the joint estate”.

She is asking the court to direct the funds to “endorse their records accordingly and pay to the wife a fifty percent (50%) share of the fund within 60 days of the granting of the order of divorce”.

The papers further contain allegations that the husband neglected to contribute to the welfare of the wife and their minor child.

The wife also alleges that the husband “has dissipated and or donated the parties’ furniture without consultation and or consent from the wife to his relatives”.

In opposing mediation, the wife states that the parties “have lost love and affection towards each other to an extent that the wife does not find the marriage relation reconcilable”.

The matter is expected to test the financial consequences of the collapse of a marriage in community of property, particularly around the division of immovable assets, pension interests and liabilities tied to the joint estate.