Denver Isaacs
3 September 2008
THE court case former TCL workers have been waiting for for the past two months got off the ground this week.
The former workers are trying to recover millions of dollars from their pension fund, which they claim disappeared into the pockets of the liquidators of the former mining company.
According to financial watchdog Namifisa, however, the money was used during the liquidation, among other things to pay severance packages to workers.
The workers argue that the company had no right to touch this money as it was part of an independent pension fund, and that it obtained the means to do so through a corrupt process.
The respondents in the case are Alexander Forbes, Momentum Life Assurance, Namfisa and liquidator Bob Meiring.
The first day of the case in the District Labour Court on Monday focused on a number of technical points between the various legal teams involved.
The case was postponed to Monday.
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