We are pensioners who have invested in a...

Asked by Gerrie on 26-12-2022 09:46:00
Question posted in the Malpractice Law category relating to KwaZulu-Natal

We are pensioners who have invested in a JSE listed company with the promise of a monthly dividend for the investment term (60 months). After 8 months they defaulted and we were forced to vote on conversion of our preference shares to either ordinary shares or hybrid preference shares. We chose the latter. In the mean time, a group of investors (58 in all) have joined in an urgent application for liquidation, but we were unaware of this until after the fact. The company has filed an opposing application which is being considered by the courts.

My question: Seeing that we are outside of this group, what will our status be as claimants, should the application be successful and liquidation be instituted?  

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