Transnet’s appeal on pensioners dismissed

2014-12-23 11:59

Transnet’s application for leave to appeal a ruling allowing their pensioners to bring a class-action suit was dismissed in the Supreme Court of Appeal.

“On December 17, the appeal court dismissed the application for leave to appeal. The reason being no reasonable prospect for success in an appeal,” said Wynanda Coetzee, of Geyser and Coetzee Attorneys, the pensioners’ attorney.

Transnet and its two pension funds had applied to the court for leave to appeal the judgment handed down in favour of the pensioners in July.

On July 31, North Gauteng High Court Judge Ephraim Makgoba granted an order allowing pensioners Johan Pretorius and Johan Kruger to launch a class-action suit on behalf of 62 000 impoverished pensioners in an attempt to recover close to R80 billion in Transnet assets and interest.

The group has accused Transnet of stripping the Transnet Pension Fund and Transnet Second Defined Benefit Fund of its assets and mismanaging them to such an extent that the funds were unable to meet their obligations to members.

They accused Transnet of attempting to dissolve the pension fund.

“The appeal was dismissed with cost. The pensioners are very grateful; this means there is hope.”

Coetzee said when the courts resumed in January they would issue the summons in the North Gauteng High Court.

On October 3, Transnet’s application for leave to appeal a ruling was dismissed by the North Gauteng High Court.

Makgoba said there were no grounds for an appeal.

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