The delays with release of the CIPC’s Interim Report

We wrote to CIPC regarding the delays with the release of the Nova Property/Sharemax Shut-down Investigation’s Interim
Report

Read here:

<www.ndcag.co.za/go/12-nov-24-letter-to-cuma-zwane-cipc-ex-herman> www.ndcag.co.za/go/12-nov-24-letter-to-cuma-zwane-cipc-ex-herman

We have received a reply from Mr Zwane, viz:

“Thank you for the email and letter, the content of which is duly noted.

The release of the preliminary report is receiving the requisite attention.

We will surely click the ‘send’ button as soon as practically possible. There are no external factors or forces hindering the release.

Kindly bear with us.”

That there are “no external factors or forces hindering the release” is good news but this suggests there is a hang-up within CIPC. We have to hope that it’s only bureaucratic matters and that these can be resolved quickly

Die vertragings met die vrystelling van die CIPC se Tussentydse Verslag

Ons het aan CIPC geskryf oor die vertragings met die vrystelling van die Nova Property/Sharemax-toeluitingsondersoek se Tussentydse Verslag. Ons sal die antwoord publiseer indien en wanneer ontvang

Lees hier:
<www.ndcag.co.za/go/12-nov-24-letter-to-cuma-zwane-cipc-ex-herman> www.ndcag.co.za/go/12-nov-24-letter-to-cuma-zwane-cipc-ex-herman

(Brief inhoud slegs in Engels beskikbaar)

Mnr Zwane het geantwoord met:

“Thank you for the email and letter, the content of which is duly noted.

The release of the preliminary report is receiving the requisite attention.

We will surely click the ‘send’ button as soon as practically possible. There are no external factors or forces hindering the release.

Kindly bear with us.”

Dat daar geen eksterne faktore of kragte is wat die vrystelling verhinder nie is goeie nuus, maar dit dui daarop dat die vertraging interne vereistes binne CIPC is. Ons moet maar hoop dat dit slegs iets burokraties is en wat vinning uitgeklaar sal word

Enkele interessante gebeurtenisse onlangs

Onlangse gebeurtenisse:

1. Nova-direkteur André Fourie het bedank
2. Nova-prokureur Diaan Ellis van Faber, Goertz, Ellis, Austen Inc (FGEA) is dood (nadat hy sy eie lewe geneem het)
3. Ons het (via the grapevine) gehoor dat FGEA die firma se verhouding met Nova beëindig het

Wat beteken hierdie drie gebeurtenisse?

Het Fourie bedank in ‘n poging om hom te distansieer van wat hy dalk ervaar as ‘n groot moeilikheid wat Nova se pad inslaan?

Het Ellis sy lewe om dieselfde rede beëindig? Hy was die “go-to” prokureur vir Nova en hy sou baie keer opgeroep gewees het om Nova-aangeleenthede en -aksies te hanteer wat die dekking van regsmening nodig gehad het

Dat FGEA die verhouding beëindig het, spreek tot die interne situasie (oor baie jare?) binne die firma. Dit dui sterk daarop dat die ander direkteure ongemaklik was (of so geword het) met die verbintenis met Nova, dat die verbinding nie deur al die direkteure onderskryf was nie (alhoewel die firma aansienlike inkomste sou verkry het uit Nova-aangeleenthede wat Ellis aangespreek het) en dat hulle distansieer hulle ook

Kan enige persoon of entiteit hulself werklik distansieer in enige situasie wat regstappe en gevolglike reputasieskade tot gevolg kan hê?

Some interesting occurrences recently

Recent occurrences:

1. Nova Director André Fourie has resigned 2. Nova attorney Diaan Ellis of Faber, Goertz, Ellis, Austen Inc (FGEA) has died (after taking his own life) 3. We have heard via the grapevine that FGEA have terminated the firm’s association with Nova

What do these three events signify?

Did Fourie resign in an attempt to distance himself from what he, perhaps, perceives as big trouble heading Nova’s way?

Did Ellis terminate his life for the same reason? He was the go-to attorney for Nova and he would have been called upon many times to handle Nova matters and actions that needed the cover of legal opinion

That FGEA have terminated the relationship speaks to the inside situation over many years within the firm. It strongly suggests that the other Directors were (or grew) uncomfortable with the connection with Nova, that the connection was not endorsed bay all of the Directors (although the firm will have derived considerable revenue out of Nova matters which Ellis addressed) and that they too are distancing themselves

Can any person or entity really distance themselves in any situation which might result in legal action and consequent reputational damage?

FW: Nova Debenture Trustee JP Tromp’s response to our questions

On 18 October, we posted a list of questions that we had sent to Tromp regarding his activities as Trustee during his tenure

He has replied and we provide same below

It will be noticed that he has not actually answered any of the questions but note in the final paragraph, that he has stated that he has initiated a “very lengthy legal process”

What does that comprise of?

We have responded to him and requested information on. We wait for his further inputs which we will share when received