Eskom to this month pursue liquidation of Trillian over R600 million payment


Eskom has said it will institute liquidation proceedings against Trillian Management Consulting and Trillian Capital Partners in the North Gauteng High Court in Pretoria later this month.

The power utility did not provide a specific date for the start of the proceedings. 

This comes after the Supreme Court of Appeal in late February dismissed Trillian Management and Trillian Capital Partners' application for leave to appeal an October 2019 high court judgement.

Last month it emerged that South African Revenue Service has attached the assets Trillian and its sole director, Eric Wood.

Eskom first approached the North Gauteng High Court in June 2019, seeking an order setting aside and declaring as null and void Eskom's payment of approximately R600 million entities in the Trillian stable.  This order was granted by the same court on October.

The court ordered Trillian entities to pay back R600 million within five days, as part of a larger R1.6 billion contract that Eskom entered with McKinsey & Co. Trillian subsequently appealed the order. 

In 2018 McKinsey paid back more than R1 billion, including interest, to Eskom.

In a statement on Thursday, Eskom's CEO André de Ruyter said the high court's ruling in the power utility's favour would give Eskom's efforts to recover funds a much-needed boost.

"Eskom has a moral duty and legal obligation to do everything it can to claw back all the monies which were illegally paid out during the height of state capture. This case is only one of the many in which Eskom's management will attempt to recoup what is due to the people of South Africa," De Ruyter said.

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