South Africa: DA Welcomes Transnet Class Action Legal Proceedings

press release

The DA welcomes the decision by the Pretoria High Court to allow the commencement of class action proceedings against Transnet and two of its pension funds, Transnet Pension Fund and the Transnet Second Defined Benefit Fund (TSBF), on behalf of 65 000 former Transnet employees.

This follows claims that Transnet alienated and mismanaged assets held by TSBF and Transport Pension Fund, resulting in the funds' inability to meets its obligations to pensioners.

...

AllAfrica publishes around 400 reports a day from more than 100 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.