ESKOM TO INSTITUTE LIQUIDATION PROCEEDINGS AGAINST TRILLIAN

Eskom CE André de Ruyter said the utility had a moral duty and legal obligation to do everything it could to claw back all the monies which were illegally paid out during the height of state capture.

Power utility Eskom has announced that it will institute liquidation proceedings against Trillian Management Consulting and Trillian Capital Partners in the North Gauteng High Court.

Last month the Supreme Court of Appeal dismissed Trillian Management Consulting’s and Trillian Capital Partners’ application for leave to appeal the North Gauteng High Court’s judgement of 2 October 2019 in proceedings instituted by Eskom.

“This follows legal proceedings instituted by Eskom, asking for the liquidation of the Trillian entities, and joining Mr Eric Wood to the proceedings, for failing to pay R600 million that Eskom had irregularly paid to the entities during 2016,” the utility said in a statement.

“In June 2019 Eskom approached the North Gauteng High Court, seeking an order setting aside and declaring as null and void Eskom’s payment of approximately R600 million to the Trillian entities. In October 2019 the court granted the order, and ordered the Trillian entities to pay back the money within five days.”

Eskom said this was part of the R1.6 billion payment in a contract Eskom had entered into with McKinsey & Co. In 2018 McKinsey paid back more than R1 billion, including interest, to Eskom.

Eskom group chief executive André de Ruyter said: “Eskom has a moral duty and legal obligation to do everything it can to claw back all the monies which were illegally paid out during the height of state capture. This case is only one of the many in which Eskom’s management will attempt to recoup what is due to the people of South Africa.”