26 APRIL 2024       PETITION IN FAVOR OF ORTHOTOUCH / ZEPHAN BUSINESS RESCUE PLAN

As investors in the Highveld Syndication Companies/Picvest/Orthotouch investment scheme which failed and is now in business rescue, we as claimants support the Orthotouch (Pty) Ltd (“Orthotouch”) and Zephan Properties (Pty) Ltd (Zephan”), business rescue plan (“the Plan”).

There is a minority group of investors, the Highveld Syndication Action Group (“HSAG”), led by Mr Johan Stander (“Stander”), a broker from Mossel Bay, as well as the HSAG class action lawyer Mr Jacques Theron (“Theron”), both non-investors, who try to set aside the Plan and liquidate Orthotouch and Zephan.

1. Background
   • Stander recently stated on RSG Geldsake in conversation with Ryk van Niekerk from Moneyweb that he thinks there are approximately 10%, or even less, members left who still support the HSAG class action.
   • Theron, has been litigating for around ten years without any substantive success and his litigation has yet to recover funds for the class action members while the HSAG membership has shrunk from 6,688 to even less than 600 (according to Stander’s 10% on RSG ). This while Theron requested that approximately R184,000,000.00 be paid into his trust account since 2015, to drive the litigation.

2. The Plan
   • We live in a democratic South Africa in which the minority can no longer constitutionally dominate the majority. More than 89% of claimants voted in favor of the Plan during the final creditor’s meeting. The wishes of the majority must therefore be respected and the HSAG members who have not submitted claims have no interest in the Plan.
   • There are over 2100 investors who submitted claims under the Orthotouch/Zephan business rescue plan. The finalizing of the claims is delayed due to Theron’s promises of success to the approximately 600 HSAG members with regards to liquidations, but he conceals the negative consequences of liquidations.
   • The submitted claim forms, as well as the validity of investor’s claims in respect of the Plan, can be confirmed by the business rescue practitioner, Du Toit Business Rescue Practice.

3. Petition
   • Investors/Claimants supporting this petition request that:
     • The business rescue practitioner of Orthotouch and Zephan, who opposes Theron’s litigation, must submit to the court our objections to Theron’s proposed setting aside of the Plan and the liquidation of Orthotouch and Zephan. We do not support any liquidations and strive for the implementation of the Plan.
     • That the honourable court will favourably consider our objections as a majority group of investors/claimants and rule against Theron’s minority supporters in order to enable the business rescue practitioner to carry out the Plan.
     • Investors / creditors are not further financially harmed by the liquidation of Orthotouch and Zephan, which may entail cost claims by the liquidator as well as the repayment of interest earnings paid to investors.

3.2 Liquidation will have catastrophic consequences for the thousands of already impoverished and mostly elderly investors who have been financially ruined due to the failed investment scheme in which many investors invested their hard-earned pension money and their quality of life has been reduced to even SASSA and family dependence.

To support this petition, click on page Support Petition

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