Inquiries into insolvent Classic Financial Services unearth assets
The administration process of the insolvent estate of Classic Financial Services has yielded ‘numerous assets’, providing a glimmer of hope for creditors.
A High Court hears details of an elaborate fraud in which scammers cleaned out a bank account and bought cryptocurrency from a part-time trader.
Read moreThe administration process of the insolvent estate of Classic Financial Services has yielded ‘numerous assets’, providing a glimmer of hope for creditors.
Claim documents have been sent to creditors as the provisional liquidators take steps to recover assets and secure funds held in the name of Classic Financial Services One.
Investors in Classic Financial Services have been told to wait before filing any further applications for the exclusion of their interest in preserved funds following its liquidation.
About R19 million will be forfeit to the state unless exclusion applications are upheld.