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Fri May 27 06:35:36 SAST 2016

FSB and curator submit to additional curators for Cadac Pension Fund

TMG Digital | 02 March, 2016 18:41
pensions
All of the members of the Cadac Pension Fund have for years complained bitterly to the FSB executive‚ as well as to the Board of the FSB. File photo
Image by: THINKSTOCK

The Supreme Court of Appeal has made an Agreement of Settlement permitting additional curators to be appointed to the Cadac Pension Fund an order of court.

This follows an agreement being reached between Simon Nash‚ the sole curator of the fund‚ attorney Tony Mostert‚ and the Financial Services Board (FSB).

The trustees of the Cadac Pension Fund had since the appointment of Mr Mostert as the sole curator‚ been applying for Mr Mostert to either be removed as the sole curator‚ or for additional curators to be appointed to the Cadac Pension Fund.

“Both of Mr Mostert and the FSB had resisted that request for the last five years‚ but at the stairs of the Supreme Court of Appeal they entered into an Agreement of Settlement‚ which was made an Order of Court‚ permitting the additional curators to be appointed‚” the fund’s trustees said in a statement on Wednesday.

“All of the members of the Cadac Pension Fund have for years complained bitterly to the FSB executive‚ as well as to the Board of the FSB‚ about the conduct of the Fund’s affairs by Mr Mostert‚ but their complaints fell on deaf ears‚” the funds trustees charged.

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