MTI Liquidation Status and Update June 2023 Liquidators Update
In the webinar posted on Youtube (which can also be accessed here:
We discuss the MTI liquidation status with the liquidators and their legal counsel, covering the following points;
- How much can the MTI investors expect to recover?
- How can the investor ensure he will get the monies owed to him paid out?
- When will the MTI investor get paid?
The basic summary of what was said concerning the above is explained in paraphrase below.
Main Points - Recovering your MTI Investment:
1. How much can I expect to get out?
In the webinar recording Mr Harriman Bester, MTI appointed liquidator, indicated that under the current status where R1.1 billion has already been recovered, the expected payout is in the region of 50 to 60% of the rand value invested.
It is reasonably safe to assume that this will hold true with direct reflection in the currency value of the investor.
However, the above figure excludes an additional R3 billion to R4 billion which is still due to be recovered from the major players. These funds can also be recovered through further discussion investigation and legal actions. If only 50% of these amounts due are recovered it will mean that the potential investor could get back all the funds that they invested in Mirror Trading International.
The major players, namely the original management and owners of MTI are frustrating the progress of the recovery with pointless court actions and preventing investors from registering their claims.
Unfortunately, several net winners are spreading inaccurate information which further prevents and misleads innocent investors, often people they brought into the scheme for their purposes.
2. How can I ensure that I will get the money owed to me?
The resources that are available through GetaQuid and its support staff can help you get your claim evaluated and submitted for consideration by the MTI liquidators.
GetaQuid ensures that all your submission documents are legally correctly prepared for submission and subsequent acceptance by the liquidator's back office.
Further, GetaQuid can help you prepare consolidation documentation for various MTI accounts.
3. When will I get paid?
Currently, as explained in the YouTube video, several outstanding court cases still need to be adjudicated before a payment can be made. We are in the final stretch.
As clearly stated by advocate Hendrik van Staden, Piere du Toit (Solicitor) and Herman Bester (MTI Liquidator) get your claims registered and submitted.
If you require a 30 min one on one direct consultation to explain your situation and also how you can progress your case simply sign up here and we will be in direct contact with you. We will also deal with any questions you may have surrounding the MTI Liquidation and procedure.
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