Huang's money woes deepen

Chinese businessman and tax-fraud accused Jack Huang's money woes show no sign of abating if court documents are anything to go by.Following his N$3.7-million-dollar lawsuit filed in June last year against trade unionist Petrus Nevonga, former Swapo councillor Christian Iitope and Jinhao Investment CC, Huang's company Sun Investments is now suing Jinhao Investment for a further N$715 000.Huang is also embroiled in a N$3.5 billion fraud and money-laundering case, which is still before the courts.Nevonga is the long-serving Namibia Public Worker's Union (Napwu) secretary-general, while Iitope is a former Ondangwa councillor.In the case against Sun Investments, Huang told the court that on 3 October 2016, a loan of N$550 000 was made to Jinhao for “business operations”.Huang had set up Jinhao along with Nevonga and Iitope on 27 October 2015. The company was trading as Super Foods in Ondangwa.The money was due to be paid back by 30 May 2018, which Huang says was not done and thus, he asked the court for payment of N$715 000, which includes 20% annual interest.In his papers, he included a letter from Iitope which acknowledged the debt, stating that “we have been experiencing some financial hardships”.A notice of intention to defend was filed by Jinhao on 28 June last year. The court had ordered that its plea be filed by 16 November and had set out several other dates including yesterday's pre-trial conference.Kadhila Amoomo, counsel for Jinhao, filed an order for condonation of late filing, which Huang said he did not oppose. The parties agreed they would wait for instructions from Judge Shafimana Ueitele yesterday.In Huang's other lawsuit against Nevonga, Iitope and Jinhao, which was also on the roll yesterday, exactly the same thing happened. Huang asked for condonation of filing and unsigned discovery affidavit while the three defendants asked for condonation of late filing. The parties agreed that they would wait for instructions from Judge Ueitele.Nevonga, Iitope and Jinhao filed an intention to defend last year and in their plea dated 16 November last year, they said the money lent to them would only be repaid once Super Foods made a profit. They also denied that Huang had left Jinhao on 2 February 2018. They told the court that there was an “oral agreement between Huang and them that because of the tax issues Huang was engaged in he would appoint an agent who shall at all material times act in the stead of Huang”.They deny the facts of the three claims totalling N$3.7 million, putting Huang to proof thereof.In his first claim, Huang says he lent Nevonga and Iitope N$1.6 million along with interest of N$416 000, leading to a total of N$2.016 million.With regard to the second claim, Huang says he over-contributed an amount of N$1 254 427.62 to the company, which was due and payable by 31 August 2017. According to his papers, the company was in a state of chaos. There were several problems with paying suppliers.“We also experienced issues obtaining income to purchase stock; store income could not cover all the operating expenses.” Namibia Beverages had allegedly also dealt with the supermarket as a “cash client, after [they] failed to meet [their] agreement”.Due to the cash-flow challenges, they were “making the majority of purchases from unregistered vendors, resulting in higher VAT rates”.They also, surprisingly, reported challenges with staff, as there were no salary increases and no pension fund or medical aid. Furthermore, “they [staff] are working on Sundays and public holidays without pay”.In this document, Huang says he was to forward N$300 000 to pay the most urgent outstanding suppliers, which he said he duly did.It also detailed a “breakdown of percentages”, which “showed Huang had over-contributed N$1 254 427.62”.Mention was also made of a frozen Nedbank account and “for now, salaries were paid by Mr Huang. As soon as the bank is unfrozen, Mr Huang will be refunded the amount paid”.The second claim lodged by Huang amounted to N$1 376 734.31, along with interest since August 2017.In his third claim, he asks for his N$300 000, with interest of N$26 000. His full and final demand from Nevonga and Itope totals N$3 718 734.31. Huang also asked for interest of 20% per annum from the date of judgement until full payment is made, and for the costs of the lawsuit to be paid by the defendants.Huang is represented by Appolos Shikameni in both matters and Kadhila Amoomo appears for Nevonga and Itope, also in both matters. YANNA SMITH

Huang's money woes deepen

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Namibian Sun 2025-09-18

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Huang's money woes deepen

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Namibian Sun 2025-09-18

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