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LATEST MEDIA REPORTS | NUUTSTE MEDIABERIGTE


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NEEM ASSEBLIEF KENNIS dat Voorwaardelike Laat Registrasies vir 2017 sal oorweeg word.

PLEASE TAKE NOTE that Conditional Late Registrations for 2017 will be considered.

KENNISGEWINGS | NOTICES

LATEST NOTICES (CONTINUOUSLY UPDATED) | NUUTSTE KENNISGEWINGS (DEURLOPEND OPGEDATEER) 

 

SEE BELOW: REGISTRATIONS, SETTLEMENTS & WHISTLE HERE 

Kindly take note that the quarterly HSAG member questionnaire has closed and will re-open in due course.


JULY / JULIE 2017


 

– Important News Flash!

Dear HSAG Member

Kindly take notice that there is only one official HSAG Facebook Page available at www.facebook.com/hsaction.

Kindly take further notice that the Facebook Page available at www.facebook.com/PICkvestCAinfo is not the Official HSAG Facebook Page and that the HSAG Steering Committee completely distantiate themselves from the aforementioned Facebook Page.

For further information, please visit the Official HSAG Website at www.hsaction.co.za, alternatively contact Theron & Partners Attorneys at +27 21 88 77 8 77.

Highveld Syndication Action Group (“HSAG”)

HSAG Public Relations

11 July 2017

 

– “Legal dispute clouds senior Pickvest exec’s defection to HSAG”

Steyn denies financial dispute led to decision to support class action; Georgiou alleges attempted extortion.

Click here to read the full article by Moneyweb. 

06 July 2017

Theron & Partners, Stellenbosch

 

– Notice to HSAG Members

It is known for a considerable time that Ms Elna Visagie is in the employment of Orthotouch / Mr Nic Georgiou.

Ms Visagie has sent/handed out documents to members of the HSAG enticing them to sign Applications for Migration with Orthotouch from Option 1 to Option 3, thereby effectively settling and waiving all their claims which they have through the HSAG class action against Mr Nic Georgiou and the other Respondents in the HSAG Class Action.

In such instance investors will be issued with shares by The Capital Growth Fund Limited (“CGF”) on date of a successful listing of CGF on the JSE.

What is more disturbing is that the people who contract with Orthotouch through Ms Visagie agree to the following:

  1. Their claims are only against Orthotouch stemming from the Business Rescue Plan and not from alleged fraudulent misrepresentations by the Respondents in the HSAG Class Action.
  2. Investors accept and acknowledge the existence and legal consequences of the S155 Scheme of Arrangement, which scheme the HSAG is currently in the process of setting aside.
  3. Investors’ application with Orthotouch to migrate is uncertain to the extent that Orthotouch may, in its own discretion, accept or reject it.
  4. Orthotouch does not admit any liability in the migration document which could enable a liquidator to possibly claim back monies paid out to investors by Orthotouch, should Orthotouch be liquidated in future.
  5. Investors lose all their claims against the Respondents, except the 33.3% stipulated in the migration document.
  6. Investors’ participation with the HSAG immediately end on acceptance of the migration document by Orthotouch and not only suspended (as insisted upon in the HSAG settlement agreement).
  7. All investors’ claims are settled and not only the claims signed with Orthotouch on the migration document.
  8. If Orthotouch fails to pay investors, investors can only sue in their own names on this migration document and not through the HSAG Class Action.
  9. By entering into the migration document, investors consent to a confidentiality clause which prohibits them to disclose any information.
  10. No further interest will be paid to investors, even if Orthotouch is in breach of the agreement.
  11. The investors’ right to claim monthly interest from Orthotouch lapses and he/she/they would only be entitled (but Orthotouch not necessarily be obliged) to dividends on a six month basis.
  12. The shares that investors acquire would only be ordinary shares and the investors will have no preference above anyone else.
  13. Investors run the risk that they acquire shares in a company that may be of little or no value if the HSAG succeeds in setting aside the S155 Scheme of Arrangement.
  14. Investors who migrate to Option 3 do not know what assets vest in the new to be JSE listed company, which effectively means that those people will receive no guarantee that their shares will be equal to the value associated/assigned to them.
  15. If the S155 Scheme of Arrangement is set aside or in the event of a liquidation of Orthotouch, a business rescue practitioner / liquidator may lay claim to those assets vesting in the JSE company, which could place the investors at further risk.
  16. People who migrate to Option 3 run the risk that they will not receive HSAG protection if Orthotouch or the JSE company fail to honour their legal obligations.
  17. The investors must in such instancec institute legal action in their own names of which the costs can become enormous.
  18. Investors and all HSAG Members are encouraged, if in doubt, to contact their own attorneys for independent legal advice.
  19. Ms Elna Visagie is not a registered financial advisor or member of the HSAG and HSAG members must be extremely cautious to sign documents presented by her without taking proper legal advice, as she is also working for Orthotouch.

6  July 2017

Official Highveld Syndication Action Group (“HSAG”) Communication

 


JUNE / JUNIE 2017


– NEWSLETTER TO HSAG MEMBERS – JUNE 2017 /

– NUUSBRIEF AAN HSAG LEDE – JUNIE 2017 

Click here for the English version 

Kliek hier vir die Afrikaanse weergawe 

29 June 2017

Theron & Partners, Stellenbosch

 

– “Boost for Pickvest Class Action”

The looming class action suit against Nic Georgiou and Orthotouch by investors in the failed R4.6 billion Pickvest property syndication schemes, may receive a significant boost.

Morkel Steyn, a senior marketing executive of Pickvest and a director of all the Highveld Syndication schemes, has “disassociated” himself from property magnate Nic Georgiou, Orthotouch and several other related individuals, as he doesn’t believe they act in the best interest of investors.

He has now approached the Highveld Syndication Action Group (HSAG), the driver of the class action application, to offer his assistance.

Click here to read the full article by Moneyweb. 

HSAG Management Committee

23 June 2017


MAY / MEI  2017


– HSAG COURT CASES TO DATE 

Click here to view the HSAG Court Cases to date

 

– Letter from Mr. Stander, member of the HSAG Steering Committee, ceasing and terminating any further settlement negotiations with Mr. Nic Georgiou. 

Mr. Georgiou refused to sign the settlement agreements that were presented to him in March 2017 and also did not honour his undertaking to present a better or put any offer on the table.

As a consequence of the aforesaid, the HSAG Steering Committee members have resolved unanimously to cease and terminate any further settlement negotiations with him, as set out in a letter, dated 5 May 2017. See attached hereto or on the HSAG website.

Further information will be published on the HSAG website. 

Click here to read the letter. 

 

– RESPONDENTS’ APPLICATION(S) FOR LEAVE TO APPEAL IN THE PRETORIA AND JOHANNESBURG MATTERS

On 17 March 2017 (Johannesburg High Court) and 7 April 2017 (Pretoria High Court) both Courts considered the applications to be urgent and ordered Mr Georgiou and Orthotouch to pay costs, including the costs of the senior and junior HSAG advocates.

Click here to read the 1st Respondent’s  Leave to Appeal in the Johannesburg High Court matter. 

Click here to read the 12th to 16th Respondents’ Leave to Appeal in the Johannesburg High Court Matter. 

Click here to read the 1st to 5th Respondents’ Leave to Appeal in the Pretoria High Court Matter. 

Click here to read the 18th Respondent’s Leave to Appeal in the Pretoria High Court Matter.

 

– HELGARD HANCKE SETTLEMENT OFFER 

It is now official that Mr Helgard Hancke is promoting the interests of Orthotouch and/or Mr. Nic Georgiou and therefor either acting as an agent for and/or or in the employment of Orthotouch / Mr Nic Georgiou to the detriment of HSAG members. According to unconfirmed sources Mr Hancke has “signed up” some investors with Orthotouch, whilst still unlawfully using the hsag@telkomsa.net e-mail address. 

Mr Hancke has recently sent out contracts to members of the HSAG enticing them to sign settlement agreements with Orthotouch, thereby effectively settling and waiving all their claims which they have through the HSAG class action against Mr Nic Georgiou and the other Respondents in the HSAG Class Action.

Click here to read further. 

Click here to view Mr. Hancke’s Settlement Offer.

Further information will be published on the HSAG website.

3 May 2017

Official Highveld Syndication Action Group (“HSAG”) Communication


APRIL 2017


– LETTER FROM JOHAN STANDER (HSAG COMMITTEE) TO MR. NIC GEORGIOU REGARDING IMPROVED SETTELEMENT OFFER, SENT ON 5 APRIL 2017. 

Click here to read the Letter. 

26 April 2017

Theron & Partners, Stellenbosch

 

– LETTERS ADDRESSED TO THE ATTORNEYS OF ORTHOTOUCH, HANS KLOPPER AND      DEREK PEDOE COHEN IN RESPONSE TO THE ORDER OF THE SUPREME COURT OF APPEAL (AS REFERRED TO IN POINT 3 BELOW)

Letter to Faber Goertz Ellis Austen Inc and Natalie Lubbe & Associates (Click here to open link)  

Letter to Zwiegers Attorneys (Click here to open link)  

25 April 2017

Theron & Partners, Stellenbosch

 

– ORDER OF THE SUPREME COURT OF APPEAL, BLOEMFONTEIN 

The Registrar of the Supreme Court of Appeal in Bloemfontein notified us that the Application for Leave to Appeal by Orthotouch against the judgment of his Lordship Spilg in the Johannesburg High Court was dismissed with costs on the grounds that the orders are purely interlocutory and that there is in any event no reasonable prospect of success in an appeal and that there is no other compelling reason why an appeal should be heard.

Hans Klopper, Business Rescue Practitioner, withdrew his application for leave to appeal.

Orthotouch is now obliged in terms of an order of the Supreme Court of Appeal to provide the Attorneys of the HSAG with a list of all persons who were entitled to vote in respect of the S155 Scheme of Arrangement and to whom notice thereof was given.

The Receiver, Derek Cohen, is to provide the Attorneys of the HSAG with a list of all persons who voted in favour or against the approval S155 Scheme of Arrangement.

Each such list shall contain a list of all known contact details.

The Order was already granted on 30 November 2016 but was sent via snail-mail by the Registrar of the Supreme Court of Appeal to the HSAG Attorneys’ Correspondent Attorneys in Johannesburg, and only received today. 

Click here to read the order

12 April 2017

Theron & Partners, Stellenbosch

 

– PRETORIA AND JOHANNESBURG HIGH COURT JUDGMENTS

The Pretoria High Court ruled on 7 April 2017 in favour of the HSAG against Mr Nic Georgiou, Orthotouch and others, with Costs.

The HSAG brought two urgent applications in February and March 2017 against the above parties in the Pretoria and Johannesburg High Courts for the unlawful withdrawal of the Certification of the Class Action (Pretoria) and Setting Aside of the S155 Scheme of  Arrangement (Johannesburg).

Both  Courts considered the applications to be urgent and ordered Mr Georgiou and Orthotouch to pay costs, including the costs of the senior and junior HSAG advocates.

The Pretoria High Court ruled that the Application for certification of a class action is not withdrawn and has never been withdrawn. The notice of withdrawal by the former HSAG Applicants was irregular and set aside. The attempt to substitute the HSAG Attorneys of record was also ruled to be irregular and set aside. The new HSAG Applicants are also formally joined as applicants in the Pretoria matter.

Click here to read the judgment

7 April 2017

Theron & Partners, Stellenbosch


MARCH / MAART 2017


– NOTICE TO HSAG MEMBERS: SETTLEMENT 

The contracts for Settlement due for signing on 30 and 31 March 2017 was tendered to Mr Nic Georgiou to sign at Stellenbosch, as agreed with him.

Mr Georgiou attended the meeting but however declined to sign the agreements and indicated that he soon wants to make a more favourable offer than the current one on the table, to enable him to settle the HSAG Class Action as a whole and not only a portion thereof.

Once we have received a formal offer, we shall communicate it to you. The current offers are still on the table.

The HSAG shall in the meantime continue to pursue the claims of its members until it is resolved satisfactorily, whether via the legal route or via settlement.

31 March 2017

Theron & Partners, Stellenbosch

 

– GEORGIOU TRIED TO ‘SABOTAGE’ INVESTORS’ RIGHTS

Read the latest Moneyweb article regarding the HSAG developments here.

 

– JUDGMENT HANDED DOWN ON 17 MARCH 2017 – JOHANNESBURG HIGH COURT

The Johannesburg High Court ruled on 17 March 2017 in favour of the HSAG against Orthotouch, Mr Nic Georgiou and two of his entities with Costs.

The HSAG brought two urgent applications in February and March 2017 against the above parties in the Pretoria and Johannesburg High Courts for the unlawful withdrawal of the Certification of the Class Action (Pretoria) and Setting Aside of the S155 Scheme of Arrangement (Johannesburg).

The Johannesburg High Court considered both applications to be urgent in light of the tactics employed by the former HSAG Applicants and their new attorneys and ordered them to pay costs, including two HSAG counsel.

The Setting Aside Application is reinstated and the new HSAG Applicants are formally joined as applicants in the Johannesburg matter.

We positively await judgment in the Pretoria High Court and will inform the HSAG members upon receipt thereof.

HSAG Management Committee

17 March 2017

Click here to read the judgment 

 

– SETTLEMENT WITH MR NIC GEORIGIOU 

Kindly take note that Mr Nic Georgiou undertook to sign the settlement agreements on 30 and 31 March 2017.

Also take note that late applications for Settlement closed on 17 March 2017.

It is the responsibility of each HSAG Member to ensure that his/her application for settlement with Mr. Nic Georgiou was submitted timeously and that all the requirements stipulated were met. Failure to do so, may result in delays or the non-acceptance of his/her application to settle and subsequent settlement. 

All payments by Mr.Georgiou will be made into a dedicated Trust Account of Theron & Partners. Please ensure that you have complied with the Financial Intelligence Centre Act (FICA) requirements. For due compliance, send an e-mail to hsagfica@gmail.com and attach your relevant documents to ensure payment of your settlement payments. 

Any settlement related form can be sent to hsagsettle@gmail.com

 

– PRETORIA (3 FEBRUARY 2017) AND JOHANNESBURG (3 MARCH 2017) HIGH COURT CASES

We received judgment in favour of the HSAG in the Johannesburg High Court on 17 March 2017. 

We received judgment in favour of the HSAG in the Pretoria High Court on 7 April 2017. 


 HELGARD HANCKE / ELNA VISAGIE / HERMAN LOMBAARD

Certain other persons, who do not form part of the HSAG, are still communicating with members of the HSAG in order to negotiate possible settlements with Mr Nic Georgiou/Orthotouch. It is not known whether such persons purport to be representatives of the HSAG, but if so, we confirm that they are not entitled to contact members of the HSAG on behalf of the HSAG.

(CLICK HERE TO READ FURTHER)

 

– APPLICANTS’ HEADS OF ARGUMENT – RULE 30 AND JOINDER APPLICATION

APPLICANTS’ HEADS_VLOK & OTHERS v GEORGIOU & OTHERS 

 

– LETTER FROM ORTHOTOUCH 17 JANUARY 2017

(CLICK HERE TO READ FURTHER) 

 

– SUPREME COURT OF APPEAL JUDGMENT ON FRIDAY, 2 NOVEMBER 2016

(CLICK HERE TO READ FURTHER)

– Read the full judgment hereunder:

Judgment: 2 December 2016

 

– RESIGNATION OF HELGARD HANCKE FROM THE HSAG STEERING COMMITTEE

(CLICK HERE TO READ FURTHER) 

 

– ATTEMPTED HIJACKING OF THE HSAG

(CLICK HERE TO READ FURTHER)

______________________________________________

Notice in terms of Rule 30(2)(b) – PRETORIA

Notice in terms of Rule 30(2)(b) – JOHANNESBURG

Kennisgewing in terme van Reël 30(2)(b) – PRETORIA

Kennisgewing in terme van Reël 30(2)(b) – JOHANNESBURG

Registrasies | Registrations

Late Registrations for 2017 are now open until /
Laat Registrasies vir 2017 is tans oop tot en met:

31 AUGUST 2017 24h00
31 AUGUSTUS 2017 24h00.

11days 01hours 11minutes 55seconds

Voltooide Registrasievorms kan gestuur word na hsagregister@gmail.com of gefaks word na (021) 887 3333 / Completed Registration Forms can be sent to hsagregister@gmail.com or faxed to (021) 887 3333.

Register here | Registreer hier

Skikkings / Settlements

Late Applications for Settlements closed
Laat Aansoeke vir Skikkings het gesluit om

17 MARCH 2017 24h00 17 MAART 2017 24h00 Enquire at: / Doen Navraag by:
hsagsettle@gmail.com
 

“Whistle Here”

Indien u enige inligting graag anoniem wil aanmeld, gebruik gerus die onderstaande e-pos adres.

Should you need to report any information anonymously, please use the email address below.

hsagwhistle@gmail.com
 

HS Action Group

The objective of the Highveld Syndication Action Group (“HSAG”) is to approach the High Court of South Africa on application for orders granting leave to the investors in the various Highveld Syndication Companies, as set out hereunder, to institute eight class actions, four on behalf of Highveld Syndications 15 to 18 and another four on behalf of Highveld Syndications 19 to 22 (unless otherwise directed by the Court). Learn More…

HS ACTION GROUP TIMELINE

TIMELINE - PREVIOUS YEARS

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