Court approves windfall of about R1bn for insolvent Denel
Surplus funds in a medical aid trust may be used on condition well-being of members are provided for, ruling reads
25 February 2022 - 11:39
Technically insolvent state-owned arms manufacturer Denel will have access to about R1bn in medical aid funds held in a trust, public enterprises minister Pravin Gordhan announced on Thursday night.
The Pretoria high court ruled on Thursday that Denel could access the surplus funds held in the Denel Medical Benefit Trust provided the welfare and wellbeing of its members are provided for...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.