Latest news with #TasneemLorgat
IOL News
2 days ago
- Automotive
- IOL News
Toyota SA distances itself from R6. 5 billion lawsuit against KZN government
Toyota SA Motors has clarified that it will not benefit in any way from the subrogated recovery action against these entities Toyota South Africa Motors (TSAM) has distanced itself from a looming legal battle involving its insurer and KwaZulu-Natal government stakeholders. According to reports, TSAM's insurer has filed a R6.5 billion lawsuit in the Durban High Court, stemming from damages suffered at TSAM's Prospecton plant during the 2022 KZN floods. Tasneem Lorgat of Toyota South Africa Motors (TSAM) explained that, while the car manufacturer is aware of the action undertaken by Tokio Marine & Nichido Fire Insurance Co. Ltd against the eThekwini Municipality, the Department of Transport and Transnet SOC Limited, TSAM is neither facilitating nor funding the litigation proceedings. "Accordingly, TSAM will not benefit in any way from the subrogated recovery action against these entities. Upon learning of the impending recovery litigation, TSAM undertook, with the consent of Tokio Marine, to engage with each of the defendants to advise of the impending subrogated recovery action," Lorgat said.
IOL News
2 days ago
- Automotive
- IOL News
Toyota SA distances itself from R6. 5 billion lawsuit against KZN government
Toyota SA Motors has clarified that it will not benefit in any way from the subrogated recovery action against these entities Toyota South Africa Motors (TSAM) has distanced itself from a looming legal battle involving its insurer and KwaZulu-Natal government stakeholders. According to reports, TSAM's insurer has filed a R6.5 billion lawsuit in the Durban High Court, stemming from damages suffered at TSAM's Prospecton plant during the 2022 KZN floods. Tasneem Lorgat of Toyota South Africa Motors (TSAM) explained that, while the car manufacturer is aware of the action undertaken by Tokio Marine & Nichido Fire Insurance Co. Ltd against the eThekwini Municipality, the Department of Transport and Transnet SOC Limited, TSAM is neither facilitating nor funding the litigation proceedings. "Accordingly, TSAM will not benefit in any way from the subrogated recovery action against these entities. Upon learning of the impending recovery litigation, TSAM undertook, with the consent of Tokio Marine, to engage with each of the defendants to advise of the impending subrogated recovery action," Lorgat said.
