NEWS

RAF back in business after Sheriff’s order!

Back in business. RAF boss Dr Eugene Watson relieved after the lifting of accounts by the Sheriff.

This follows the Fund’s bank accounts being lifted by the Sheriff’s last week, were some law firms sought to extract immediate payment at the expense of many claimants and their service providers.

As a result, Dr Watson said last week the firms’ actions had disrupted an established cash management plan which now inconsiderately prioritised them over those who had patiently been awaiting payment.

He said the attachment obstructed payments to the value of approximately R550 million to various stakeholders.

But this week, they sang a different song with the lifting that would have impacted negatively to service providers.

“The lifting of the attachment order meant that payments to claimants‚ service providers‚ stakeholders and caregivers have resumed.

The team would work on bringing all payment schedules up to speed and on ensuring that the cash management plan schedules were restored,” he said.

Watson said the cash management plan put in place two years ago when the value of finalised claims exceeded available cash‚ aimed to maintain regular payments to creditors.

For RAF countrywide its back to business.

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