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Business rescue practitioners in talks with UIF over cash-strapped SAA

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“There can be absolutely no special deal between the bankrupt SAA and the UIF in order for the national carrier to get access to the UIF’s coffers.”

“There can be absolutely no special deal between the bankrupt SAA and the UIF in order for the national carrier to get access to the UIF’s coffers. These funds are held by the UIF on behalf of the hard-working employees and employers of South Africa, who have diligently put these monies aside,” said Lees.

“If there is a surplus in the UIF, it must be returned to its owners — the employees and employers who contribute to the fund. It cannot be used to bail out a bankrupt SAA and subsidise the maladministration and looting that has taken place. “While we sympathise with the hard-working employees at SAA, we simply cannot condone this clear attempt to gift the collapsed SAA with another bailout by stealth.”

The business rescue practitioners noted, in their letter to the DA, that “at this stage, no agreement whatsoever has been concluded with the UIF to make any funds available for the retrenchments of SAA employees”.

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 /  🏆 28. in JP
 

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Why shud taxpayers continue bailing out because of the rife corruption. The govt is eventually going to get compliant taxpayers to become non-compliant because there is only so much u can milk the cow. They shud feed the cow before they milk it.

What next. Anything to fund concession tickets for cadres and BEE middlemilkmen.

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