Trillian appeals order to repay Eskom's R600m
The now-defunct Trillian Capital Partners company has applied for leave to appeal a High Court ruling ordering it to repay Eskom its portion of R1.7bn in unlawful payments emanating from state capture-linked deals, says a Scorpio report on the Daily Maverick site.
It says the move effectively suspends the execution of Eskom’s much-heralded 18 June victory for repayment – thereby delaying recovery of R600m in taxpayers’ money.
But Eskom has hit back.
It wants Trillian to open its books, to provide full particulars of income, property, bank accounts, money held on its behalf in trust accounts or by pay agents, and all other assets, with the necessary supporting documents, including verified bank statements. At the very least, Eskom wants Trillian to put up security for nearly R600m by paying it into a ring-fenced attorneys’ trust account until such time as all appeals are completed.
‘Eskom should not have to engage in a lengthy and costly appeal process with Trillian, without any assurance that Trillian can satisfy the court order,’ it argues. That is, in part, because Trillian is embroiled in litigation or other state capture controversies to the tune of about R1bn, including the Eskom claim, says the report.
Transnet has issued summons against two subsidiaries, Trillian Asset Management and Trillian Financial Advisory, for a total of R134m, while the company is also a respondent in a R239m lawsuit brought against Regiments Capital by the Transnet Second Defined Benefit Fund following a series of controversial interest rate swaps.
Both matters are pending.
Furthermore, the company’s sole representative, CEO Eric Wood, is engaged in complex litigation involving his former partners at Regiments Capital after a fallout triggered by a Gupta bid to buy Regiments in 2015.
Trillian has until 30 July to file its response.
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