Premier Soccer League (PSL) club Bloemfontein Celtic has filed a notice of intention to oppose the multimillion rand lawsuit by Standard Bank South Africa.
Standard Bank wants the club liquidated for allegedly failing to repay six home loans amounting to more than R4 million.
Celtic have until October the 4th to file their papers in the High Court in Bloemfontein.
The bank argues it has entered into six home loan agreements with Bloemfontein Celtic in December 2015. But the club has failed to honour its contractual obligations.
According to the bank, the club has also failed to adhere to a revised payment plan agreement. Celtic’s financial woes are well-documented.
The situation was so dire that players and technical staff often boycotted training sessions. The outgoing owner, Max Tshabalala, has pleaded poverty and wants out of the club.
Tshabalala has agreed in principle to sell the club to businesswoman, Sinki Leshabane, and Tshwane City manager, Dr Moeketsi Mosola. He has declined to comment on the protracted legal tussle with Standard Bank.
Leshabane has also declined to comment, but confirmed she’s aware of the latest developments.
