“Property magnate Nic Georgiou may face claims of more than R3 billion from investors of two failed Highveld Syndication (HS) schemes, after another defeat in the Supreme Court of Appeal (SCA),” Moneyweb reported last week.
This was as a result of the SCA’s dismissal of Georgiou’s appeal against a previous High Court Judgement which found he must honour the buyback agreement he signed with an HS 22 investor. Acting Judge Moroa Tsoka also confirmed that the buyback agreements were not affected when the HS companies were put into business rescue.
The judgement is good news for the thousands of HS 21 and HS 22 investors who signed similar agreements to institute claims against Georgiou. He may, therefore, be liable to repay the R1.3 billion to HS 21 and R1.8 billion to HS 22 investors. The Moneyweb report indicated that he will also be liable for interest payments.
Click here to read the Moneyweb article.
Click here to read an update article that indicates that “an unnamed ‘third party’ will make an offer to settle investors’ claims against Orthotouch and Zephan with Accelerate shares”.
Hi there I have two investments with syndication no 19. I was in touch with them a few years back and was told that I would get my original investment paid out without interest this year 2023. I can however not get hold of them. Any suggestions as to what I can do?
I suggest you contact the Highveld Syndication Action Group, which represents claimants and is engaged in legal action in this respect. Their website is https://hsaction.co.za/
Good Morning
I am busy with the estate late of Mrs MM Kruger, id 350626 0035 087.
She also invested money with PIC.
Please furnish me with more information as well as if the estate will receive any money.
Regards.
IJJ DE BEER (Agent for the Executrix.
Hi. My husband had an investment with this company. Can someone please shed light on there whereabouts. We can’t find them
https://orthotouch.co.za/
https://www.facebook.com/hsaction/