Union wants its R300m back, but Surve's media group says it didn't read the fine print

Lawyers for SA's largest clothing trade union have tried to discredit an agreement purporting to freeze the group's R300 million loan claim against Sekunjalo Independent Media (SIM), saying the document lacked authorisation and was never properly explained to the union. 

The investment arm of the Southern African Clothing and Textile Workers' Union (Sactwu) has gone to court to compel the media group to pay back the funds, which it says are urgently needed for expenses such as funeral benefits. 

Sactwu Investment Group loaned the media group R150 million in August 2013, which it used to buy Independent Media from its Irish owners. The loan was meant to be paid back in 2020, by which time it would have been worth about R300 million.