08 June 2020 - NW126
Shivambu, Mr F to ask the Minister of Public Enterprises
(1)What total amount have certain persons (names furnished) been paid since their appointment as business rescue practitioners for the SA Airways (SAA); (2) whether the specified business rescue practitioners benefited from the Development Bank of Southern Africa equity bridge loan facility to SAA; if so, (a) what amount did they get paid for that specified intervention and (b) how are they paid?
The following information was provided by the Business Rescue Practitioners of the South African Airways Response:
1. The business rescue practitioners have been paid in accordance with the hours worked and set down rate for business rescue practitioners. The amounts paid to Matuson & Associates and Adamantem as at 26 May 2020 are as follows:
Matuson and Associates – R22 208, 689
Adamantem (Pty) Ltd – R14 002,112
(2) The business rescue practitoners did not benefit from the intervention relating to the DBSA bridge facility, other than payment in the normal course of the business rescue process done based on hours spent on the transaction and set down rate for that practitioner.