BHI Trust ‘was run as illegal scheme from inception’
As creditors await repayment totalling nearly R2bn, preliminary investigations by the joint trustees point to potential asset recoveries totalling just over R414 million.
Old Mutual Unit Trust Managers off the hook for R1.7 billion claim arising from Fidentia scandal.
Read moreAs creditors await repayment totalling nearly R2bn, preliminary investigations by the joint trustees point to potential asset recoveries totalling just over R414 million.
The trustees advise ‘that a contribution will currently be levied against creditors until such time that sufficient recoveries are made for the benefit of 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.