Denel is going after bosses to get back 'misspent' money

Civil action against some former Denel executives to recover monies lost through the irregular awarding of pilot bursaries; A statement will soon be submitted to the police to lay complaints against former executives identified in the forensic reports; An application will soon be launched in the high court to review the contracts concluded between Denel and VR Laser; Disciplinary action will be taken against Denel employees implicated in the reports‚ pending legal recommendations; and Civil...

The company was commenting after trade union Solidarity said it will this week serve urgent court papers on the struggling arms manufacturer to force it to pay outstanding unemployment insurance and tax contributions. Solidarity said it has also started a process in terms of section 165 of the Companies Act to have alleged mismanagement and corruption perpetrated by former Denel directors investigated‚ with a view to their possible prosecution.

On Wednesday‚ Du Toit said the company is aware of the contents of a dossier on alleged corruption compiled by Solidarity and of the union’s intention to institute legal steps to investigate the issues.

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