Transnet’s application for leave to appeal a ruling allowing their pensioners to bring a class-action suit was dismissed in the Supreme Court of Appeal, the pensioners’ attorneys said on Tuesday.
“On December 17, the appeal court dismissed the application for leave to appeal. The reason being no reasonable prospect for success in an appeal,” said Wynanda Coetzee, of Geyser and Coetzee Attorneys.
“The appeal was dismissed with cost. The pensioners are very grateful, this means there is hope.”
She said when the courts resumed in January they would issue the summons in the High Court in Pretoria.
On October 3, Transnet’s application for leave to appeal a ruling was dismissed by the High Court in Pretoria.
Judge Ephraim Makgoba said there were no grounds for an appeal.
Transnet and its two pension funds applied to the court for leave to appeal the judgment handed down in favour of the pensioners in July.
On July 31, Makgoba granted an order allowing pensioners Johan Pretorius and Johan Kruger to launch a class-action suit on behalf of Transnet’s 62,000 impoverished pensioners in an attempt to recover close to R80 billion in assets and interest.
The group has accused Transnet of stripping the Transnet Pension Fund and Transnet Second Defined Benefit Fund of its assets and mismanaging them to such an extent that the funds were unable to meet their obligations to members.
They accused Transnet of attempting to dissolve the pension fund. SAPA