Property investors challenge directors


Property investors challenge directors

R4.6-billion Orthotouch class action claim set for court hearing.

Just as thousands of investors in a property syndicate prepare for a class action in May to try to claw back R4.6 billion from a company called Orthotouch, a new challenge faces the investors: without notice to them, the company last month obtained a high court order ratifying a new plan – to delay payment to shareholders of their capital investment for 10 years.

Stellenbosch attorneys Theron & Partners, acting for the investors’ property syndication companies, Highveld Syndications (HS), have by now assembled over 7,000 of 18,000 investors, in a class action group, the Highveld Syndication Action Group (HSAG). A court date has been set for 19 May in the South Gauteng High Court, Johannesburg.

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Keywords:
Hans Klopper
Orthotouch
Business Rescue
Georgiou
Nic
Highveld Syndications
Michael
Property
Property Syndication
Scheme Of Arrangement
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