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Update October 2019

October 2019

2 October 2019 

The attorneys acting for the respective pension funds provided Geyser & Coetzee with their comments to the settlement agreement following our comments directed to them during September 2019.  The amendments are by and large of a technical nature and does not detract from the settlement that was accepted in respect to the commercial portion of the agreement.  

We have finalised our application but await Transnet and the Funds’ comment thereto in order not to delay the matter going forward. Should Transnet and the Funds’ attorneys agree with the contents of our affidavit they have indicated that they will file a confirmatory affidavit supporting the relief sought.

We await confirmation of a timeline to be agreed upon between all parties’ legal representatives.  It is foreshadowed that implementation of the settlement is still foreshadowed for December 2019 as initially anticipated.  In view of the delay no court appearance will be scheduled to take place on 7 October 2019 as previously communicated. 

We appreciate your patience and cooperation and will keep you abreast of the developments and the future court dates.

Kindly do not contact Geyser & Coetzee in respect to the matters set out hereinabove as valuable time is lost thereby.  We have also noted that some pensioner members have made social media postings in which the legal team and the trustees are slandered.  Please refrain from this practice as this conduct will no longer be tolerated.



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