The Transnet Second Defined Benefit Fund (TSDBF) has launched urgent court proceedings in a bid to sequestrate Eric Wood.
Wood was the chief executive officer of the now defunct Trillian Capital Partners, a financial advisory firm embroiled in the State Capture scandal.
The TSDBF says it has claims in excess of R300-million against Trillian and says Wood’s personal estate is insolvent. It accuses the Johannesburg businessman of having committed various acts of insolvency that prejudiced creditors.
It cites, as examples, Wood allegedly having flogged a R3-million McLaren to a luxury car dealership for below market value (R1.3-million) and having moved ownership of his properties into trusts within months of allegedly becoming party to a State Capture conspiracy in 2012.