Telkom seeks $6 million from former MD

[rpm]

Telkom seeks $6 million from former MD

Telkom is taking legal action against a former executive claiming $6 million for alleged acts of recklessness and breach of contract.

 

[Azbubu]

Why are they seeking dollars?

 

[Shake&Bake]

Why are they seeking dollars?

Looks like the transactions with MulttLinks were all concluded in dollars.

 

[Azbubu]

Maybe they were concerned that if they claimed in ZAR, the exchange rate at the time of the transactions would have been used.

 

[sox63]

One of the advantages of having an outsider like Maseko come in as CEO, is that he would have no loyalty issues of going after past executives IMO.

Proving to be a bad month for Blue Label Telecoms from a publicity view...

 

[Shake&Bake]

Maybe they were concerned that if they claimed in ZAR, the exchange rate at the time of the transactions would have been used.

And that there wouldn't enough space for a rand value after the conversion was done.

 

[MickeyD]

Small fry... where's the bigger ones?

 

[Paul Hjul]

On an island somewhere, or in a compound ...

I was expecting Jeffrey Hedberg or Reuben September to be on the litigation list

 

[j4ck455]

I was also expecting it to be Jeffrey Hedberg, I wonder how his incompetence managed to escape the new CEO's attention and that of board members.

 

[Paul Hjul]

I am not sure that Hedberg did anything wrong but a forensic audit of both Hedberg and September is needed and depending on how much work has actually been done either or both should be called to suit frankly. It isn't for me exclusively a case of recovering the money as much as demanding accountability. Of course I would be against a witch hunt or incurring horrendous costs in bad litigation.


As an off topic thought: I wonder if Maluleke, Msimang & Associates will be handling the matter against Msimango