Louis Group: promises, promises


Louis Group: promises, promises

Alan Louis wrote to business-rescue practitioner Trevor Glaum of Sanek Trust in August, assuring him that in the “highly unlikely” event that Louis Group South Africa  failed to repay 100% of its R29-million loan debt to Abela Property Investments, then the Louis Group International Foundation [first we hear of its existence – Ed.] will fund the difference, which, he said, would have the effect that the shareholders in Abela “will not be at any loss”.

Mr Nose was almost at a loss for words with excitement on behalf of those Abela shareholders  – until he read the next paragraph of Alan Louis BComm (Hons) MComm PhD’s letter: “The Foundation, if so required, will raise the funds from Banc Roche (Singapore) to give effect to this guarantee.”

A guarantee based on an offshore loan yet to be raised? Mr Nose quickly got his breath back: what might Banc Roche in Singapore have to say about Alan’s promises on their behalf? The Louis Group has been defaulting on repayments to Investec Bank since May 2011.

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Submitted by : Les Wittenberg of EZE VILLAGE on 2013-11-23 19:01:55
Smug robbers - nailing widows and vulnerable estates - lock him up !
 
Submitted by : R YOUNG of RONDEBOSCH on 2013-11-23 08:29:53
It take all sorts to defraud the populace.

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