We Need Your Input and Opinion on How the Liquidation Process is being Handled?

Please take the POLL below.

We value your opinion.

Evaluate the Liquidation Process

We need your valued input and opinion about how the liquidation process is being handled. Have your say?

As an MTI Investor, what is your overall opinion of the liquidators?

Please consider all the aspects here. Do you have confidence in the process they have adopted? Do you feel they are working diligently and transparently to recover your funds? Only use the "Other" choice if none of the above are too far from what you agree with.
As an MTI Investor do YOU know the role of the Liquidators?
Do you as an "MTI investor" / "MTI participant " realise that the liquidators are supposed to be working for you?
Please rate your perspective on what the Liquidators are doing?
This is a straight-up evaluation of the overall performance of the Liquidators and the process they are following.
Have the liquidators, in your opinion, made it clear to you how they are evaluating your claim?
Please evaluate the level and clarity of communication that you have received from the liquidators?
As an MTI participant are you confused or have a clear and confident understanding that the liquidators have considered all aspects required to make a fair and equitable valuation of your bitcoin interest in MTI.
Are you of the opinion that the liquidators have unnecessarily approached the court for the interim order?

Do you think that it was fair that the liquidators filed for the interim order without letting anybody or any of the interested parties know that they intended to do this?
In the interim order, the liquidators will force any members who withdrew bitcoin to repay the bitcoin withdrawn at the value withdrawn.

That will mean, if you in July 2020 invested five bitcoin, and then because you were unhappy with the process, withdrew your five bitcoin from the scheme, you will have to repay the five bitcoin to the liquidators irrespective of whether you have a claim now or not.

Further, if you withdrew bitcoin to the value of $100,000 you will first put back into the liquidators' pot the $100,000. Now, just for example, your claim may only be valued at $0.65 in the dollar. This means that you will be at an absolute loss when you recover your investment.

This order is absolutely not in the interest of the investors, as it only benefits the liquidators who can recover 10% of what they collect for the communal liqidators' pot. Therefore, this method will greatly disadvantage many individuals and is only to the advantage of the liquidators.

Do you think that treating "net losers” and “net winners” fairly in a debit credit system should be used? Would that not be a much better way of evaluating what needs to be repaid and paid out? Do you support a system such as this and reject the liquidators’ proposed procedure?

In the original documentation set out by the liquidators they actually had this evaluation system used to determine where you were a net winner or loser and to give you an idea of your claim.

Why this sudden change of procedure?

This interim order is grossly unfair and in our opinion simply only to the benefit of the liquidators and has many aspects that disadvantage the MTI investors.

The question below deals with this.
Do you support a simple Debit and Credit system to determine what you may recover or repay?

Please read the text above for Clarity.
Your opinion is important to us but for us to be able to use this information in court actions and also so we can further contact you for your support in terms of your opinion please complete the balance of this form fully and accurately.

This way your opinion counts.

1 Comment

Pottie Potgieter · 07/11/2022 at 11:09 am

I originally made a very small investment of R4800. I never withdraw any amount of my investment or “interest” shown on my investment by MTI. I did not lodge a formal claim as I did not make any contribution to the legal team. I dont think I can get anything back, but if possible the legal team can retain 50% of such a successful claim.

Comments are closed.