Pretoria – 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.