News / National
SA investors fight to elbow out local partner
28 Feb 2018 at 05:59hrs | Views
TWO South Africans who entered into a partnership with a local businessman to open an upmarket restaurant in Victoria Falls are reportedly fighting to elbow him out of the business after successfully establishing themselves.
Messrs Martin Peters and Ilan Wiesenbacher hold 40 percent each of the investment and gave Mr John Mpofu 20 percent. The joint venture gave birth to Three Monkeys Restaurant last year in January. The trio are joint directors of the on-demand upmarket eatery whose clientele is predominately international tourists.
One year after opening the facility, Messrs Peters and Wiesenbacher, who seem to have used Mr Mpofu as a front to start the business, are reportedly fighting to elbow him out.
Chronicle Business is reliably informed that Mr Mpofu was offered $25 000 buy-out, which he refused to accept, after which he was reportedly clandestinely removed from the business' back accounts. The restaurant is operating near the Victoria Falls train station on premises leased to Mr Mpofu by the council where he used to operate a small cafeteria.
Contacted for comment, Mr Mpofu confirmed the developments but refused to comment saying he had since approached his lawyers to handle the issue.
"I only saw an email notification that I am no longer part of the company," he said before requesting not to speak about the issue.
Messrs Peters and Wiesenbacher each hung up their mobile phones after this reporter introduced herself.
A subsidiary of Three Monkeys, Little Monkeys, was opened in the Central Business District recently and was supposed to be directed by Mr Mpofu according to an initial agreement, Business Chronicle gathered.
A source close to the goings-on said: "After seeing that Three Monkeys business is booming, the two directors offered Mr Mpofu $25 000 to buy him out of the company but he refused. They went on to remove him from the directorship and business' joint bank account without his consent."
Messrs Peters and Wiesenbacher were a few months ago dragged to court by employees who alleged they were being harassed at work. The case is still pending.
Messrs Martin Peters and Ilan Wiesenbacher hold 40 percent each of the investment and gave Mr John Mpofu 20 percent. The joint venture gave birth to Three Monkeys Restaurant last year in January. The trio are joint directors of the on-demand upmarket eatery whose clientele is predominately international tourists.
One year after opening the facility, Messrs Peters and Wiesenbacher, who seem to have used Mr Mpofu as a front to start the business, are reportedly fighting to elbow him out.
Chronicle Business is reliably informed that Mr Mpofu was offered $25 000 buy-out, which he refused to accept, after which he was reportedly clandestinely removed from the business' back accounts. The restaurant is operating near the Victoria Falls train station on premises leased to Mr Mpofu by the council where he used to operate a small cafeteria.
Contacted for comment, Mr Mpofu confirmed the developments but refused to comment saying he had since approached his lawyers to handle the issue.
"I only saw an email notification that I am no longer part of the company," he said before requesting not to speak about the issue.
Messrs Peters and Wiesenbacher each hung up their mobile phones after this reporter introduced herself.
A subsidiary of Three Monkeys, Little Monkeys, was opened in the Central Business District recently and was supposed to be directed by Mr Mpofu according to an initial agreement, Business Chronicle gathered.
A source close to the goings-on said: "After seeing that Three Monkeys business is booming, the two directors offered Mr Mpofu $25 000 to buy him out of the company but he refused. They went on to remove him from the directorship and business' joint bank account without his consent."
Messrs Peters and Wiesenbacher were a few months ago dragged to court by employees who alleged they were being harassed at work. The case is still pending.
Source - chronicle
