Other creditors delay pay-out of Teta’s Fidentia claim

There is still no indication of how much of or when the Transport Education and Training Authority (Teta) will get back its R251.8-million “investment” in Fidentia. While Teta submitted its claim to the Fidentia curators last year, the widows and orphans fund, the Living Hand Trust, has not yet done so, according to Teta CEO Maphefo Matlala. “Until they do,” she said, “the curators cannot go ahead and pay the creditors.” It’s all a bit frustrating for Teta, which originally expected payment in May. “Then came August, and still nothing,” said Matlala. “And now it’s near the end of November, and we’re still waiting.” And another frustration from Living Hands’ claim not yet being in, she told FTW, is that how much will eventually be paid to each creditor cannot be finalised. “But,” Matlala said, “talks with the curators suggested that, from what they had heard, we could expect about 30-40 cents in the rand.” Just before going to print, FTW talked to Teta attorney, Alan Jeftha of Cliffe Dekker Attorneys, who is dealing with the curators. But he told us that his latest verbal report from the curators revealed that the Living Hands Trust had still not submitted its claim – and he could lay no firm dateline on when this would happen. “However,” he said, “the Trust seems to be getting its act together now, and the curators expect to get details of how much they are owed any time soon.” Jeftha also indicated that he expected a full report in writing from the curators – hopefully this week – and assured FTW that any new information it might reveal would be made available to us.