Krok gets a shock
HYDE PARK - Businessman and owner of Summer Place in Hyde Park, Solly Krok has been ordered to pay back a loan of more than R3 million.
According to Times Live, FirstRand Bank obtained an order to sell off a property belonging to the 85-year-old Krok who ‘refused’ or ‘neglected’ to pay back a loan. He claimed to be unaware of the matter.
It was reported that court papers revealed that Krok was personally served with a writ of execution for the property in Adriana Street in Observatory, Johannesburg.
According to the report, Krok said, “All I know is I mishandled it. I asked somebody to put in an appearance to defend and I forgot about it. I was away for two weeks, so that is what happened.” He added that he would try to resolve the matter as soon as possible.
It was reported that the sheriff of the court served the warrant to the tycoon personally at his home in Hyde Park, Johannesburg on 4 December and an order was subsequently granted. The order called for a 3400m² property in Observatory, Johannesburg owned by the mogul to be sold on public auction to recover more than R3 million plus interest.
Krok and his family have been known to purchase prime property which includes the high class function venue, Summer Place which he bought in 1994 for R12 million and properties which became the sites for the Apartheid Museum and Gold Reef City.
