Lanzerac Wine Estate takes on SARB over R220m forfeiture

The luxury wine estate Lanzerac, formerly owned by Markus Jooste, is challenging the South African Reserve Bank (SARB) over its decision to order the forfeiture of R220 million. According to papers filed at the Gauteng High Court, Jooste's former company, Morpheus Property Investments, has raised constitutional issues regarding regulation 22D of the Exchange Control Regulations 1961. The estate is also challenging the legality of this decision, claiming it unjustifiably infringes parts of the South African Constitution.