Family reaches bottom of barrel in its efforts to hold on to ...

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Family reaches bottom of barrel in its efforts to hold on to wine farm

The futures of the owners and workers on one of SA’s oldest wine estates hang in the balance amid court battle

Journalist

The future of one of SA’s oldest wine estates hangs in the balance as a bank squeezes it for millions of rand in unpaid debt.

Nedbank has obtained an order in Cape Town high court declaring Goede Hoop Wine Estate in Stellenbosch “specially executable” to recoup more than R8.5m. The farm has been in the Bestbier family’s hands since 1929.

Pieter Bestbier, the farm’s third-generation winemaker, is listed as the first respondent in the litigation. According to court papers, the Goede Hoop Trust, which owns the farm, received a substantial amount of money from the bank in the form of “an overdraft facility and loans, which were secured by way of nine mortgage bonds registered over the farm”...

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