Moto Mabanga had sued the company for US$40.8 million for his work in trying to settle the shareholder dispute with Congolese Wireless Network (CWN), which is a co-owner of Vodacom's DRC subsidiary.
He was paid US$2.8 million for his work, but then claimed a US$40.8 million success fee - which represented about 5% of the value of the company.
The court dismissed that claim, but did award him US$21 million.
The commercial court has now issued an order to secure Vodacom's 510,000 shares in its 51-percent held Vodacom Congo in order to enforce an earlier ruling that the company should make the payment of US$21 million to Moto Mabanga.
Vodacom is appealing both the earlier ruling, and the attempt to seize its shares in the company.
Vodacom and CWN have had a fraught relationship ever since Vodacom invested in the company back in May 2002. It has been reported recently that the other South African network, MTN is interested in buying the investment from Vodacom.
On the web: Bloomberg
Posted to: www.cellular-news.com/story/53730.php