Welcome to Sanek Trust Recovery Services (Pty) Ltd

Sanek is an insolvency practice which was founded in the 1970’s by the late Dr Fred du Plessis who was then the Chairman of Sanlam. In fact, Sanek is an acronym for Suid Afrikaanse Nasionale Ekseketeurskamer.

At the time, a large property developer, Glen Anil, which was listed on the Johannesburg Stock Exchange (as it then was) found itself in financial difficulty and was wound up. Sanlam had an exposure through its banking arm, Trust Bank, and Dr du Plessis decided that the business of liquidating appeared to be rather lucrative and founded Sanek.

In 1983 the business of Sanek was purchased by Stephen Gore and his partners at the time and, after going through various changes in shareholders, is now operated by Sanek Trust Recovery Services (Pty) Limited whose current directors are Stephen Gore, Sivalutchmee Moodliar (Darusha) and Trevor Glaum. Most of Sanek’s employees have been with the business for over 20 years.