Eskom to file for Trillian liquidation to claw back state capture millions

Press release

Eskom will this month institute liquidation proceedings against Trillian Management Consulting and Trillian Capital Partners in the North Gauteng High Court after the Supreme Court of Appeal dismissed Trillian’s application for leave to appeal an October 2019 North Gauteng High Court judgement.

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 R600m that Eskom had irregularly paid to the entities during 2016.

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 R600m 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.

This was part of the R1.6bn payment in a contract Eskom had entered into with McKinsey & Co. In 2018, McKinsey paid back more than R1bn, including interest, to Eskom.

André de Ruyter, Eskom Group Chief Executive, says: “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.”