The CIPC’s Interim Report has still not been released and so there’s no progress yet towards the planned review meeting that is to be followed by publication of the Final Report with, supposedly, beneficial outcomes for the Sharemax investors and, in many cases, their testamentary successors
It would seem that, as alluded to in our earlier posts and in our Comment and email responses, there is much lobbying underway by unnamed authority bodies to ensure that the report does not contain too much content that is damaging and which can result in reputational damage
This is ironic insofar as, on the one hand, some of these authorities were allegedly complicit (the Final Report is expected to declare this as so) in the original plot to “capture” the PSPCs and on the other hand, some authorities were just not willing, during the period between the 2010 close-down and 2022/23 when the CIPC broadened its PSPC investigation to include all relevant authorities, to actually listen to the activist allegations of gross malpractice and illegality and take appropriate action
In our opinion, the complicit and delinquent authorities deserve whatever negative judgements the Final Report might eventually contain and they can just, in modern parlance, “suck it up”!
Whatever face-saving is eventually achieved, the recommendations, or better still, mandatory decisions, to be delivered in the Final Report must in no way diminish the recompense (return of investment, compensation for loss of earnings since 2010 and compensation for lost “share of profit” out of the original property portfolio value growth that would have occurred over time) due to the original investors or their successors
Further, the Final Report should not in any way diminish the role and culpability of those persons and bodies that were complicit in and benefitted from, the close-down and specifically, aided and abetted the capture of the Sharemax assets which have largely “disappeared” under the management of Nova
Culpable illegal actions must be prosecuted. Simply receiving financial compensation out of the decisions of the CIPC investigation will not actually deliver justice for the loss, deprivation and suffering that has been the lot of the Sharemax investors since 2010