Old Mutual Unit Trust Managers Limited must pay for losses suffered by the Living Hands Umbrella Trust in relation to the Fidential scandal as well as legal costs
Old Mutual Unit Trust Managers Limited has been ordered to pay more than R1.7bn in damages plus costs for losses suffered by the Living Hands Umbrella Trust in relation to the Fidential scandal.
Gauteng High Court judge Thina Siwendu handed down the judgment on July 12, which compels OMUT to pay plaintiffs in the matter R854,650,643 in capital plus another R854,650,643 in interest. OMUT was also ordered to pay all costs of the legal action including the cost of three counsel and those incurred in having witnesses testify...
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