Disclaimer - great Article thanks!
The below article was not written by RAG or its direct involved people. We would like to give credit to the author and are in the process of determining who can claim it. Please respond to Sharon@getaquid.com if you can shed light on this. Well worth a read.
Summary of the 'Provisional Liquidation of MTI ~ What now' Youtube video:
1) This is a South African Liquidation so the currency that will be used is ZAR (South African Rand);
2) Liquidation happens in FIAT (normal currency) and not in BTC;
3) Whichever Liquidator/s gets appointed has to act swiftly and in the best interest of the body of Creditors.
4) If you want to have a say in who the Liquidator/s will be, you have to complete one single Liquidator Nomination Form for the total initial investment in ZAR when you transferred it to MTI. It wasn't clearly stated as such, but I would imagine that you can add to that all the subsequent deposits which you have made as well in the same ZAR value when it was transacted to MTI. Overseas Members can also add the US Dollar Value next to the Rand value if you are not sure of your calculations.
5) You must physically sign a nomination form, as digital signatures or otherwise will not be accepted under South African Insolvency Law - make a plan. Also you can only submit one Nomination Form per claimant. If you send more than one, say one to one Liquidator and another completed form to another Liquidator, both nomination forms will be disqualified in court (you can still claim later on though).
6) Email your completed and signed Nomination Form to the supplied email address for that Liquidator (should be on the Form).
7) The forms need to reach the Liquidators via email BEFORE 15:00 Thursday 31 December 2020 South African time to be considered for the appointment for a specific Liquidator. BUT, if you do not send a Nomination Form in or its late, you will still have the opportunity to submit a claim later on, possibly up to 30 days from the provisional Liquidation Order - there will be some clarification on the time frame soon enough;
8) If you need to submit Nominations (or claims) for minor children, the parents or guardian can do the form, but will have to add a signed affidavit with your ID/Passport as well as any ID for the minor as well;
9) Nominations and claims can be done/submitted by both South African citizens as well as Members from other countries. However please write clearly in English if possible (clear black pen) and also make sure that whatever image or .pdf you send via email to your nominated Liquidator, that it is clear and legible for the recipient to read.
10) Although not needed for your Nomination Form, you will need to prove any claim further down in the Liquidation process and thus should urgently collect all evidence that you can to later substantiate your claim. This means any Crypto Exchange transactions where you sent BTC to MTI or received BTC from MTI and everything in your Back Office will play a very important role later. However, no one knows how long the MTI server will still be up in order for Members to collect that 'evidence' in the Back Office so please do it as a matter of extreme urgency. But take screen dumps of everything, especially deposits, withdrawals and transfers, but everything if you can.
11) Liquidators (up to five, but normally around 3) may be appointed by the Master of the High Court, depending on the volume and complexity of the Liquidation.
12) It was also stated by all that should the MTI Members, Founding Members and other major gainers in the scheme come forward and voluntary pay back their ill gotten gains, then the process will go much quicker and easier and the law may also be a little more lenient towards those who cooperate with both the law and the liquidators.
13) If the Liquidator who you nominated does not get appointed as one of the appointed Liquidators, your nomination form should be handed to the Liquidator/s who was appointed so that your form will not mean nothing, but still be in the system and you will be contacted by whomever takes over as the appointed Liquidator/s.
14) It was also stated that Johann Steynberg will be searched for and apprehended if he fails to come forward. If he does not come forward and cooperate fully, he will most probably be sequestrated in his absence. That probably goes for other Founding Members and top officials of MTI also (but don't quite me on it).
15) Costs were discussed/disclosed by the Liquidators present and quoted as a percentage on recovery of assets/FIAT: 3% on Fixed/immovable property (say houses that need to be sold and turned into currency), 10% on Movable Assets (like vehicles, office furniture, clothes, house contents, jewellery, etc.) and 1% on Cash or Monetary transfers (not sure if Crypto assets gets treated the same here);
16) It was also stated that should MTI Management produce evidence of, or the full BTC amount owed to investors, then the Liquidation will be retracted (I honestly doubt if this is even a remote possibility at this stage, but miracles has happened before);
17) I may have missed a few minor stuff which was discussed, but please watch the video for yourself as well if you have the facilities available. There will also be a follow up video on Wednesday the 30th so lets keep out eyes open for that.
Please also note that some of the Liquidator Nomination forms are pinned under the pinned messages in this Group. There may be more on the RAG webpage too. However the two that we have pinned, are also the two Liquidators mentioned in the Video, namely InvesTrust and Sebenza Trust. The two forms are also listed below this message for your convenience.
InvesTrust - 'REQUISITION-AW-VAN-ROOYEN-MTI.pdf' - email completed form to: email@example.com
Docs and info available at Website: https://www.investrust.co.za/mti-liquidation/
Sebenza Trust - 'Sebenza Trust REQUISITION 2020 MTI.doc' FORM - email completed form to: firstname.lastname@example.org
Docs and info available at Website: https://liquidationspecialis.wixsite.com/sebenzatrust
Docs and info available at Website: https://1drv.ms/u/s!Ap8SKor10WWloOJK_R70sB8-3mdv2w?e=hC8YpV
WORD of Caution here please. The information above is being provided for your convenience. You as the MTI investor must please examine all your options and determine on your own accord which liquidator you would like to support.
RAG recommends you do your own investigations and determine who you would like to nominate. We reiterate the above information is provided to assist you and to only be used as an example.