By Owolabi Abiola.
CAF is to pay the pensions of some members of its erstwhile Executive Committee led by Issa Hayatou. In a landmark verdict made by the Court of Arbitration In Sports, the continental football ruling body was ordered to pay the pensions of the affected members after a final calculation of the arbitration costs is done,
In a nutshell, the arbitral tribunal:
– Sets aside CAF’s decision retroactively suppressing the right to the indemnity of the affected members
– Orders CAF to pay USD 109,904.80, plus interest at rate of 5% as of 10 September 2017
– Orders CAF to pay 85% of the arbitration costs
– Orders CAF to pay CHF 3000 in legal fees.
Counsels to both parties are expected to meet in due course to determine how and when CAF will pay the arbitration costs after it has been finally ascertained. This is a favourable verdict for members of the erstwhile CAF executives led by Cameroon’s Issa Hayatou.