Register now for Fin24 Dashboard and get access to portfolios, watchlists, financial comparison tools, and a whole lot more to help you achieve your financial goals.

Data provided by McGregor BFA
All data is delayed
Loading...
Where am I? Home
 
Prices are delayed by 15min.
Join the Fin24.com conversation about JSE-listed stock by using every time you tweet.

'Maroga sacking illegal'

Jun 07 2010 18:09

Related Articles

Judge rules against Eskom

Maroga sues Eskom for R85m

 

Top Stories

Cell C move sparks price war

May 27 2012 11:21

There's a price war raging between South Africa's cellphone networks after Cell C lowered the rates of its prepaid calls by more than 34%.

Tupperware agents incensed by fakes

May 27 2012 11:49

The country's 200 000-odd Tupperware agents are angry about the counterfeit products being sold as the real McCoy.

Another golf estate victim

May 27 2012 13:09

The oversupply of golf estates has claimed another victim.

 
Share Share line Print
Johannesburg – The termination of Jacob Maroga's employment as chief executive officer of power utility Eskom was illegal, the South Gauteng High Court heard on Monday.

"...It is unlawful and must be set aside," said Maroga's lawyer Vincent Maleka.

He spent the day painstakingly picking through the company's articles of association – which govern the relationship between its directors and shareholders – in support of Maroga's claim to R85m in benefits he lost by being removed from the post.

Maleka said there was no written resignation letter by Maroga and the board did not make a written resolution on its acceptance of the resignation in October last year. He said that all of this was Eskom's version.

Although they say it was done orally, there was nothing written down by the board to confirm it. All they could find was a "round robin" resolution on whether they should accept Maroga's resignation, and that of chairperson Bobby Godsell who had also resigned at the height of the controversy.

The board decided to accept Maroga's resignation but not Godsell's.

One signature on resolution

However, a copy of that resolution was only signed by one person on November 2.

A copy of the resolution containing the signatures of the other board members, which would have constituted a quorum, couldn't be found. There were eight board members present at this meeting, according to Eskom.

"This is not an acceptable resolution. There is no copy with everyone's signature. We invite our learned friends to make it available to the court and to us."

Earlier Maleka had argued that only Public Enterprises Minister Barbara Hogan could have fired him after that, in terms of the company's articles of association.

The articles also stipulate that resignations had to be done in writing.

Maleka said Eskom was obliged to act ethically as a state entity.

"(But this) was not consistent with the virtues and values of proper governance by a state entity."

Maroga was present in court and appeared relaxed as he followed proceedings.

 
 
Comment on this story
5 comments
Add your comment
Comment 0 characters remaining
Facebook's intrinsic value
May 23 2012 11:32

When it comes to judging a company’s worth, value investors like Warren Buffett look at intrinsic value. By that measure, Facebook’s shares are worth less than $10. A Reuters analyst breaks down the math. (Reuters)

Perfin

I arranged two workshops in Cape Town at the Cape Chamber of Commerce offices as well as two computer based workshops, one on Google Adwords and another on Joomla Administrator at the training centre in Somerset West. Emarketing Workshops - http://emarketingworkshops.co.za/next-workshops 1. Interne... Read their blog...

Recently updated
Podcasts
The Sishen saga

Legal expert Peter Leon on the increasingly complex legal wrangle over the Sishen Iron Ore mine. Time: 8:17 Listen Here...

Before you list

Is the clarion call of the JSE calling? Listen to Fin24’s expert panel discussion before you list your small business. Time: 17:29

Compare and Buy

Compare and apply for hundreds of financial products from many suppliers.

Credit cards Medical aid Current accounts Think Money

Money Clinic

Money Clinic Do you have a question about your finances? We'll get an expert opinion.
Click here...

Loading...