High Court of South Africa - MTI Liquidation - Case no: 15426/2021 - 2 March 2022
J C Kriel and GetaQuid (Class Action) in their prayers to the Court requested that the matter before the court be postponed to be heard at a later stage.
The full affidavit and court papers are available.
How this affects the "Mirror Trading International Investor".
- Not a Ponzi - The Ponzi scheme declaration was not heard - therefore the MTI Trading Scheme has not been declared a Ponzi.
- Agreement Reached with Liquidators - The agreement reached is now part of the High Court of South Africa (Western Cape Division, Cape Town) registered under Case Number: 15426/2021.
- How to Get Your Claims Approved - In this agreement, there is now a clear path set out on how the investors can get their claims approved through assistance by GetaQuid (Investors Friend).
- Interim Dividend to be Paid Out - The Liquidators have agreed that they are prepared to assist GetaQuid to get the Investors approved as Creditors and then payout an interim dividend from the liquidated equity. This payment is a very significant step. This can be done approximately 4 months from now. The liquidators will be able to do this should we get sufficient claims resolved and approved.
- Next Special Meeting - The next Special meeting of Creditors will be convened as early as the 1 st of April 2022 to consider claims lodged and finalised by then (This is not an April fools joke)
- Very Tight Schedule - GetaQuid and the investors have a total 90-day window to get this done. See also the post: https://getaquid.com/2-march-2022-court-case-investors-protected/
- Can be Bought Back to Court - The final pleas as set out in the J C Kriel affidavit have not yet been argued but can be brought back to court.
- Total Settlement Opportunity - The opportunity to settle the whole of this matter can now be negotiated and discussed over the ensuing 90 days.