https://www.engineeringnews.co.za

Public Enterprises to study High Court order

Public Enterprises Minister Lynne Brown

Public Enterprises Minister Lynne Brown

Photo by Duane Daws

  

Font size: - +

Public Enterprises Minister Lynne Brown is to study the Pretoria High Court’s judgement regarding a class action suit against Transnet.

This after the high court, on Thursday, granted an order to two pensioners to launch a class action suit on behalf of Transnet’s 62 000 pensioners. This is in attempt to recover close to R80-billion in assets and interest.

The ports and rail operator is accused of stripping its Pension Fund and Transnet Second Defined Benefit Fund of its assets and mismanaging them.

It was reported that the group is also accusing Transnet of attempting to dissolve the pension fund.

“I have noted the High Court’s decision and will study the judgment,” said Minister Brown of Judge Ephraim Mokgoba’s order that was granted to the pensioners.

Edited by SANews, SA government news service

Comments

Showroom

GreaseMax
GreaseMax

GreaseMax is a chemically operated automatic lubricator.

VISIT SHOWROOM 
ESAB showroom image
ESAB South Africa

ESAB South Arica, the leading supplier of high-end welding and cutting products to the Southern African industrial market is based in...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.081 0.131s - 174pq - 2rq
Subscribe Now